Faruqi & Faruqi, LLP Investigates Potential Claims Against UPS: Investors Who Lost Over $100,000 May Be Eligible to Join Class Action
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against United Parcel Service, Inc. (UPS) on behalf of investors who suffered losses exceeding $100,000. The investigation focuses on alleged misstatements and omissions made by UPS concerning its expected revenue and operating margins, which ultimately led to a significant decline in the company’s stock price.
The firm alleges that UPS and its executives provided investors with misleading information about the company’s financial performance, painting a rosier picture than reality. They claimed confidence in their ability to handle volume growth and maintain operating margins, despite internal knowledge that UPS was not adequately equipped to handle a surge in lower-profit services without experiencing a decline in margins. This alleged deception is believed to have inflated the company’s stock price, leading to losses for investors.
The truth came to light on July 23, 2024, when UPS announced disappointing financial results for the second quarter of fiscal 2024, lowered its guidance for the third quarter, and reduced its margin guidance for the full fiscal year. The company attributed these setbacks to a shift in volume towards value products, which impacted its operating margins.
Investors reacted swiftly to the news, sending UPS’s stock price plummeting from $145.18 per share on July 22, 2024, to $127.68 per share on July 23, 2024—a drop of over 12%.
Faruqi & Faruqi, LLP is now seeking to represent investors who suffered losses during this period. The firm is actively investigating the matter and encourages investors to contact partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310) to discuss their legal options.
If you suffered losses exceeding $100,000 in UPS stock between January 30, 2024, and July 22, 2024, and would like to discuss your legal rights, contact Faruqi & Faruqi, LLP today. The firm is dedicated to recovering losses for investors who have been harmed by corporate misconduct.
Important Information:
* The deadline to seek the role of lead plaintiff in the class action is December 9, 2024.
* Investors may choose to remain an absent class member and still potentially share in any recovery.
* Faruqi & Faruqi, LLP encourages anyone with information about UPS’s conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.
For additional information about the UPS class action, visit www.faruqilaw.com/UPS. Follow Faruqi & Faruqi, LLP for updates on LinkedIn, X, or Facebook.
Disclaimer:
This press release is not intended to constitute an offer to represent any investor. All communications will be treated in a confidential manner.
