NEW YORK, NY / ACCESSWIRE / October 3, 2022 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, announces that it is investigating FedEx (NYSE:FDX) for potential violations of the federal securities laws.
On Thursday, September 15, 2022, FedEx released preliminary first quarter financial results and said they are shuttering storefronts and corporate offices while putting off new hires brought on by drop-off in its global package delivery business.
The company warned it will likely miss Wall Street's profit target for its fiscal first quarter that ended Aug. 31 and said it expects business conditions to further weaken in the current quarter amid weaker global volume. Its stock fell more than 20% in after-hours trading following the announcement.
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About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, corporate governance and shareholder rights, consumer, and cybersecurity and data privacy litigation, as well as whistleblower representation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
David J. Schwartz
SOURCE: Labaton Sucharow LLP
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