SAN DIEGO, May 19, 2022 (GLOBE NEWSWIRE) — Johnson Fistel, LLP is investigating potential claims on behalf of Ryder System, Inc. (NYSE:R) against certain of its officers and directors. In 2020, a class action lawsuit was filed against Ryder, recently the Court denied the defendants’ motion to dismiss.
In 2020, a class action lawsuit was filed in federal court. The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts regarding the activities of the company, operations and outlook. Specifically, the defendants failed to disclose to investors that: (1) they failed to disclose that Ryder’s financial results were inflated due to the company’s practice of overstating the residual values of vehicles in its fleet; (2) there were no reasonable grounds to believe that Ryder would sell its used vehicles for the amounts it attributed to them; (3) Ryder’s residual values for its vehicle fleet exceeded expected future values that would be realized; and (4) as a result of the foregoing, defendants’ positive statements about the company’s business, operations and prospects were materially misleading and/or lacked reasonable basis.
If you are a current long-term Ryder stock shareholder, you may have standing to hold Ryder harmless from the alleged harm caused by the officers and directors of the Company by making them personally liable. You may also be able to help reform the company’s corporate governance to prevent future wrongdoing.
If you permanently own Ryder shares, you can click or copy and paste the link below into a browser to join this share:
If you want to know more about the investigation, please contact Senior Analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivatives and securities class actions. Johnson Fistel is seeking to recover losses incurred due to violations of federal securities laws. For more information about the firm and its lawyers, visit http://www.johnsonfistel.com. Lawyer advertisement. Past results do not guarantee future results.
Johnson Fistel, LLP
Jim Baker, 619-814-4471