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1:19-cv-00098
Tennessee Eastern
Securities/Commodities
Class Action
Travis R McDonough
A Tennessee federal judge handed counsel for investors of freight company U.S. Xpress Enterprises Inc. approximately $4.3 million, or one-third of a $13 million settlement, for their role in striking a deal to end claims that the company omitted key information in documents it published prior to its initial public offering.
A Tennessee federal judge gave the first OK on Tuesday to a $13 million settlement agreement between U.S. Xpress Enterprises Inc. and a class of investors to resolve claims that the freight company left out key information from its offering documents in the run-up to its initial public offering.
Four firms urged a Tennessee federal court Friday to appoint them lead counsel in a proposed investor class action accusing trucking company U.S. Xpress Enterprises Inc. of leaving key information out of its offering documents in the run-up to its initial public offering last June.