YRC Slips Investor Suit Alleging It Overcharged DOD
Law360 (March 27, 2020, 6:56 PM EDT) -- YRC Worldwide escaped a proposed securities class action Friday after a New York federal judge found that the freight shipping company had no duty to disclose the government investigation that culminated in a civil suit over its allegedly fraudulent overbilling.
The shareholders alleged that YRC had "systematically overcharged" the U.S. Department of Defense by millions of dollars for freight shipping services from 2005 to at least 2013, as revealed when the U.S. Department of Justice filed suit against YRC in December 2018.
But on Friday, U.S. District Judge Glenn T. Suddaby permanently dismissed the securities suit, ruling that YRC, which the...
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