NEW YORK, NY / ACCESSWIRE / September 25, 2022 / Pomerantz LLP is investigating claims on behalf of investors of FedEx Corporation (""FedEx" or the "Company") (NYSE: FDX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether FedEx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 15, 2022, FedEx released preliminary first quarter financial results and announced plans to shutter storefronts and corporate offices while putting off new hires brought on by drop-off in its global package delivery business. FedEx further stated that it was unlikely to meet Wall Street's profit target for its fiscal first quarter ended August 31, 2022 and that the Company expects business conditions to further weaken in the current quarter amid weaker global volume.
On this news, FedEx's stock price fell $43.85 per share, or 21.4%, to close at $161.02 on September 16, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
SOURCE: Pomerantz LLP