Eric has served in leadership positions in a number of high profile, complex financial lawsuits. He has been recognized as a Daily Journal, among the Top 100 Super Lawyers in Northern California, and a Law360 MVP for Consumer Protection.
Our attorneys are investigating legal claims on behalf of investors of XPO Logistics (NYSE: XPO) regarding possible violations of federal securities laws.
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XPO Stock Plunges Over 26% Following Publication of Forensic Investigation
On December 12, 2018, Spruce Point Management published a report about XPO Logistics, claiming that it discovered “financial irregularities that conveniently cover [XPO’s] growing financial strain and inability to complete additional acquisitions despite repeated promises.”
Spruce Point Management reported that it found “concrete evidence to suggest dubious tax accounting, under-reporting of bad debts, phantom income … and aggressive amortization assumptions: all designed to portray glowing [results]” that do not comply with generally accepted accounting principles.
The report also alleged that “XPO insiders have aggressively reduced their ownership interest in the Company since coming public, and recently enacted a new compensation structure… defined in such a non-standard way that it is practically meaningless.”
On this news, XPO Logistics shares plunged more than 26% to close at $44.50 on December 13, 2018, causing significant harm to investors.
Gibbs Law Group's Financial Fraud Experience
Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).
Noteworthy Financial Fraud Cases
|American Express Financial Advisors Securities Litigation||$100 million cash settlement for clients alleging American Express steered them into under-performing “shelf space funds” to reap kickbacks|
|Chase Bank “Check Loan” Litigation||$100 million settlement for consumers alleging Chase offered long-term fixed-rate loans, only to later more-than-double required payments|
|Peregrine Financial Group Customer Litigation||Settlements worth $75 million for futures and commodities investors who lost millions in the collapse of Peregrine Financial Group, Inc.|
|NantHealth||Court-appointed Co-Lead Counsel in a securities class action alleging the company’s founder violated federal securities law and artificially inflated stock prices|
Our Securities Attorneys
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
Michael has over 20 years of experience representing individuals in complex cases involving banking credit card and other financial frauds.
Amanda represents employees, consumers and investors in complex class action lawsuits throughout the country. She previously served as a law clerk to the Honorable Richard A. Paez, United States Court of Appeals for the Ninth Circuit, and to the Honorable Claudia Wilken, Northern District of California.
XPO Logistics stock losses?
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