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Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of FedEx Corporation (NYSE: FDX) from September 19, 2017 through December 18, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for FedEx investors under the federal securities laws.
If you bought FedEx securities between September 19, 2017 through December 18, 2018, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces the Filing of a Securities Class Action Lawsuit Against FedEx Corporation – FDX
New York, N.Y., June 28, 2019. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of FedEx Corporation (NYSE: FDX) from September 19, 2017 through December 18, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for FedEx investors under the federal securities laws.
To join the FedEx class action, go to http://zhanginvestorlaw.com/cases/fedex-corporation/ or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) TNT Express N.V.’s (“TNT”) overall package volume growth was slowing as TNT’s large customers permanently took their business to competitors after its June 2017 cyberattack (the “Cyberattack”); (2) as a result of the customer attrition, TNT was experiencing an increased shift in product mix from higher-margin parcel services to lower-margin freight services; (3) the anticipated costs and timeframe to integrate and restore the TNT network were significantly larger and longer than disclosed; (4) FedEx was not on track to achieve TNT synergy targets; and (5) as a result of these undisclosed negative trends and cost issues, FedEx’s positive statements about TNT’s recovery from the Cyberattack, integration into FedEx’s legacy operations, customer mix, customer service levels, profitability, and prospects lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 26, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/fedex-corporation/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.