Published April 4, 2023
Update in the case: Stein V. U.S. Xpress Enterprises, Inc. Et Al, 1:19-cv-98 (E.D. Tenn.):
A settlement has been reached and was preliminarily approved on March 28, 2023. The settlement provides for the payment of $13 million to eligible class members. Lead plaintiff Deirdre Terry alleged violations of §§ 11 and 15 of the Securities Act of 1933 based on false and misleading misstatements that the company made that allegedly concealed from shareholders facts relating to driver retention and the harm the U.S. Xpress was suffering from its inability to retain drivers.
The hearing on the Motion for Final Approval is scheduled for July 10, 2023.