NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of XPO Logistics, Inc. (“XPO” or “the Company”) (NYSE: XPO) concerning possible violations of federal securities laws.
On December 12, 2018, XPO filed a Form 8-K disclosing that the Company “anticipates 12-15% year-over-year growth in adjusted EBITDA in 2019.” Following this news, shares of XPO fell from a close of $66.69 on December 11, 2018 to a close of $60.27 on December 12, 2018. Then on December 13, 2018, Spruce Point Management issued a “strong sell recommendation” and published a report on XPO, stating that it had found “strong evidence to suggest dubious tax accounting, under-reporting of bad debts, phantom income through unaccountable M&A earn-out liabilities, and aggressive amortization assumptions: all designed to portray glowing ‘Non-GAAP’ results.” Following this news, XPO was down more than 18% on intraday trading on December 13, 2018. To obtain additional information, go to:
https://www.zlk.com/pslra-1/xpo-logistics-inc-loss-form
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.