NEW YORK, April 30, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of U.S. Xpress Enterprises, Inc. (NYSE: USX) pursuant and/or traceable to the company’s initial public offering completed in June 2018 (the “IPO” or the “Offering”). The lawsuit seeks to recover damages for U.S. Xpress investors under the federal securities laws.

To join the U.S. Xpress class action, go http://pawarlawgroup.com/cases/u-s-xpress-enterprises-inc/ or call Vik Pawar, Esq. or toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

According to the lawsuit, the Offering materials issued in connection with the IPO failed to disclose that: (1) a shortage of trucks was negatively impacting U.S. Xpress’s dedicated division; (2) certain shipping patterns had been performing differently than expected, negatively impacting utilization and driver retention and hiring, as well as U.S. Xpress’s dedicated accounts; (3) consequently U.S. Xpress’s OTR division was providing continued support to its dedicated division; (4) U.S. Xpress failed to stay informed regarding two large liability events, resulting in an understatement of insurance claim expense; and (5) U.S. Xpress’s cost per mile for driver wages and independent contractors was exceeding the company’s internal expectations. 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 May 10, 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://pawarlawgroup.com/cases/u-s-xpress-enterprises-inc/ or call Vik Pawar, Esq. or toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff. Attorney Advertising. Prior results do not guarantee a similar outcome. 

Pawar Law Group represents investors from around the world.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com