SAN FRANCISCO, Sept. 23, 2022 (GLOBE NEWSWIRE) — Hagens Berman urges FedEx Corporation FDX investors who suffered significant losses to submit your losses now.
FedEx Corporation FDX Investigation:
As recently as late June 2022, FedEx gave investors FY 2023 guidance and said, with respect to its largest operating segment (FedEx Express), both FedEx Express air network efficiency and year-over-year volume comparisons across all of its transportation segments would strengthen through the fiscal year.
FedEx’s representations came under question on Sept. 15, 2022, when it announced disastrous preliminary results for Q1 2023. The company also said its business conditions would weaken in Q2 2023 and then it withdrew its 2-month-old FY 2023 guidance. This news sent the price of FedEx shares crashing 21% lower on Sept. 16, 2022, wiping out over $11 billion of shareholder value. In response, one analyst wrote, “Much of the shortfall was attributed to global volume weakness in the final weeks of the quarter, but we have a hard time believing that’s the full picture…”
“We’re focused on investors’ losses and finding the true cause of FedEx’s reversal from its June 2022 guidance,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in FedEx and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding FedEx should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email FDX@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895