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Published April 18, 2025
Shipping giant TFI crashed out when it revealed its trucking business had been on the decline for a year, but Company executives hid the fact from stockholders. When they learned the truth, enraged investors dumped their shares, causing TFI’s stock price to plummet 20% in just a day. Now, those investors are fighting back with a class action.
Throughout 2024, TFI told investors its income was down. But, TFI’s executives had all sorts of excuses: The Company’s investments weren’t doing as well, the Company wasn’t selling off as much equipment, and, perhaps, the Company wasn’t shipping as much. But, it turns out, the truth was TFI’s business was declining and it couldn’t control costs. Just, no one said that to stockholders ... until February 2025.
In February, the Company released a catastrophic finance report showing income was way down. TFI couldn’t hide it anymore: the Company’s largest segment was down 15% over the last year, it was losing small and medium business customers, and its expenses were exploding.
Angry investors rapidly sold off, sending TFI crashing. Some of those investors are now joining the lawsuit.