Case Summary
UPS
NYSE: UPS
Case Details
- Savage v. United Parcel Service, Inc. et al.
- Class Period:January 30, 2024 - July 22, 2024
- Date Filed:October 10, 2024
- Jurisdiction:U.S. District Court, Northern District of Georgia
- Docket Number: 1:24-cv-04591
- Lead Plaintiff Deadline: December 9, 2024
Seek Plaintiff 0
Overview
A class action lawsuit has been filed against United Parcel Service, Inc. (“UPS” or the “Company”) (NYSE: UPS) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws. The UPS class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired UPS securities between January 30, 2024, to July 22, 2024, both dates inclusive (the “Class Period”). Investors have until December 9, 2024, to seek appointment as lead plaintiff in the UPS class action lawsuit.
UPS is a multinational parcel delivery and supply chain management solutions company operating in more than 200 countries and territories. UPS provides same day and overnight air delivery, definite-date ground delivery, and SurePost, which provides non-urgent deliveries with the final leg provided by the U.S. Postal Service.
The UPS class action lawsuit alleges that Defendants provided investors with material information concerning UPS’s expected revenue and adjusted operating margin for fiscal year 2024. Defendants’ statements included, among other things, confidence in the Company’s volume growth, price discipline, cost execution, and its overall ability to handle volume variabilities. Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of UPS’s growth – notably, that it was not truly equipped to handle a surge in volume in lower-profit services without seeing a significant decline in its operating margins. Such statements absent these material facts caused shareholders to purchase UPS’s securities at artificially inflated prices. The truth emerged on July 23, 2024, when UPS announced its financial results for the second quarter of fiscal 2024, provided lower-than-expected guidance for the third quarter, and reduced its margin guidance for full fiscal year 2024.
* * *
If you purchased or otherwise acquired UPS securities between January 30, 2024, to July 22, 2024, both dates inclusive and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.
You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected].
The deadline to apply to the Court to serve as a lead plaintiff in the UPS class action lawsuit is December 9, 2024.