Company Website: http://www.classlawgroup.com
OAKLAND, Calif. -- (Business Wire)

Gibbs Law Group is investigating claims on behalf of investors of XPO Logistics, Inc. (NYSE: XPO) involving possible securities law violations. Specifically, our investigation focuses on allegations that XPO may have engaged in unlawful business practices.

To speak privately with an attorney regarding this class action lawsuit investigation, click here.

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."

Following the publication of the Spruce Point Management report, shares of XPO plummeted by more than 26% on December 13, 2018 to close at $44.50 per share, causing significant harm to investors.

If you purchased or acquired shares of XPO Logistics and would like to speak privately with a securities attorney to learn more about the investigation and your legal rights, visit our website or contact the securities team directly at (800) 808-5294.

Gibbs Law Group represents individual and institutional investors in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”

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View source version on businesswire.com: https://www.businesswire.com/news/home/20181213005975/en/

Contacts:

EILEEN EPSTEIN
510.350.9728
EJE@CLASSLAWGROUP.COM

Source: Gibbs Law Group