Former California Deputy Attorney General and Special Prosecutor with Johnson Fistel Launches Investigation into XPO Logistics (XPO); Encourages Investors to Contact the Firm for Additional Information
SAN DIEGO, Dec. 13, 2018 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP with the assistance of former California Deputy Attorney General and Special Prosecutor, Tiffany Johnson, Esq., is investigating potential claims against XPO Logistics, Inc. (NYSE: XPO).
On December 13, 2018, Spruce Point Capital Management ("Spruce Point") issued a report titled ''Trucking Ridiculous; End of the Road." The report claims that XPO is plagued by ''financial irregularities that conveniently cover its growing financial strain and inability to complete additional acquisitions despite repeated promises.'' The report also characterizes XPO 's financials as ''unreliable and dubious'' stating that Spruce Point has uncovered ''concrete evidence to suggest dubious tax accounting, under-reporting of bad debts, phantom income through unaccountable M&A earn-out liabilities, and aggressive amortization assumptions: all designed to portray glowing 'Non-GAAP' results.''
Following this news XPO stock was down over 12% in early morning trading on December 13, 2018.
If you have information that could assist in this investigation, or if you are an XPO shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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