Freight Co. YRC Asks 2nd Circ. To Snuff Investors' Fraud Suit

Law360 (November 9, 2020, 10:20 PM EST) -- YRC Worldwide told the Second Circuit Monday that a New York federal judge properly rejected a proposed securities fraud class action alleging that the freight shipping giant deceived investors by failing to disclose that the U.S. Department of Justice had been investigating YRC for years for overbilling the government.

YRC Worldwide Inc. and current and former top executives filed a brief asking the Second Circuit to affirm U.S. District Judge Glenn T. Suddaby's March dismissal of a securities fraud action spearheaded by the lead plaintiffs, the City of Warwick Retirement Fund and Peter Szabo, an individual investor. 

The securities litigation stems from...

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