NEW YORK, Dec. 26, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of YRC Worldwide Inc. ("YRC" or the "Company") (NASDAQ: YRCW). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether YRC and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 14, 2018, The Wall Street Journal reported that the United States Department of Justice had filed a complaint alleging that YRC Worldwide "made false statements to the government and defrauded the Department of Defense by inflating weight measurements on bills" from 2005 to at least 2013. Specifically, it is alleged that workers for the Company reweighed thousands of shipments and didn't disclose the results when those weights came in under the original estimate.
On this news, shares of YRC Worldwide stock fell $1.26 per share or over 28% to close at $3.17 per share on December 14, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP