NEW YORK, NY / ACCESSWIRE / July 21, 2017 / 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. 9980.
The investigation concerns whether FedEx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 28, 2017, FedEx announced that the worldwide operations of the Company's TNT Express unit were significantly affected by a cyber attack known as Petya. On July 17, 2017, FedEx filed an annual report on Form 10-K with the U.S. Securities and Exchange Commission. In its annual report, FedEx advised investors that the disruption in services caused by the Petya attack would have a material financial impact on the Company's full-year results.
The Company further advised investors that FedEx "do[es] not have cyber or other insurance in place that covers this attack." On this news, FedEx's share price fell $2.96, or 1.35%, to close at $216.10 on July 17, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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.pomerantzlaw.com.
SOURCE: Pomerantz LLP