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Allegations
The filed complaint alleges that TFI International Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was losing small and medium business customers; (2) as a result, the Company’s TForce revenue was declining; (3) TFI was experiencing difficulties managing its costs; (4) as a result of the foregoing, the profitability of its largest business segment was declining; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.