LOS ANGELES, July 01, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against FedEx Corporation (“FedEx” or “the Company”) (NYSE: FDX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between September 19, 2017 and December 18, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before August 26, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. FedEx acquisition TNT Express N.V.’s (“TNT”) package volume growth slowed as customers took their business to competitors following the Company’s 2017 cyberattack. TNT’s product mix shifted to low-margin freight from high-margin parcel service. The restoration of TNT’s network took longer and cost more than the Company had disclosed. FedEx was not on track to achieve the targets it set for synergy with TNT. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about FedEx, investors suffered damages.
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