NEW YORK, Sept. 27, 2019 /PRNewswire/ -- WeissLaw LLP, a
national class action and shareholders' rights law firm with
offices in New York, Los Angeles and Atlanta, announces an investigation of FedEx
Corporation (NYSE: FDX) ("FedEx," or the "Company").
If you own FedEx shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, visit our website:
http://www.weisslawllp.com/fedex-corporation/
Or please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Or follow us on Twitter @MarketsAlert
The investigation focuses on possible breaches of fiduciary duty
and violations of federal securities laws by the FedEx Board of
Directors for the alleged dissemination of materially false and/or
misleading information in connection with the Company's
operations. Specifically, that FedEx was experiencing
difficulties with the integration process of its largest
acquisition to date, TNT Express N.V. ("TNT"). As a result of
these issues, the Company allegedly made materially false and/or
misleading statements and/or failed to disclose that: (i) TNT's
overall package volume growth had slowed down and was experiencing
a shift in product-mix from higher-margin parcel services to
lower-margin freight services; (ii) the timeframe to integrate TNT
was significantly longer than what was previously disclosed; and
(iii) FedEx was not on track to achieve its TNT Improvement
Target.
On December 18, 2018, the Company
announced disappointing financial results for the second quarter of
2019, attributing its missed profits to the negative shift in TNT's
product mix. On that news, FedEx's share price dropped
$22.50 to close on the following day
at $162.51. FedEx's share price
has continued to nosedive, losing nearly $100.00 since September
27, 2018.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients.
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SOURCE WeissLaw LLP