SAN DIEGO, March 21, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities that purchased or otherwise acquired TFI International Inc. (NYSE: TFII) (“TFI” or the “Company”) securities between April 26, 2024 and February 19, 2025 (the “Class Period”), charging the Company and certain senior executives with violations of the federal securities laws (collectively, “Defendants”).
TFI investors have until May 13, 2025 to seek appointment as lead plaintiff of the TFI class action lawsuit.
If you purchased or acquired TFI securities between April 26, 2024 and February 19, 2025, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/tfi-international/.
You can also contact DiCello Levitt attorneys Brian O’Mara or Ruben Peña by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.
Case Allegations
TFI is a transportation and logistics company that operates in the United States and Canada. The Company operates through four segments: Package & Courier, Less-than-Truckload (“LTL”), Truckload, and Logistics. TFI derives approximately 43% of its revenue from its LTL segment, which includes TForce Freight, a rebrand of the less-than-truckload and dedicated truckload divisions of United Parcel Service, Inc., that the Company acquired in April 2021.
The TFI lawsuit alleges that Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) TFI “was losing the small and medium-sized” customers; (2) as a result, TFI’s TForce Freight revenue was declining; (3) the Company was struggling to manage costs; and (4) these issues negatively impacted the LTL segment’s profitability.
The truth emerged on February 19, 2025, when TFI announced its fourth quarter and full year 2024 financial results. In a conference call held on the same day to discuss the results, Defendants revealed that TFI was “losing the small and medium-sized . . . customers, which have the best margin . . . [a]nd this was really accelerated in Q4.” Defendants admitted that “this is problem number one for” the Company.
Later in the call, Defendants disclosed that “[p]roblem number two is cost” and described TFI’s efforts to manage the issue as “working steadily on costs since we bought this company . . . But at the same time, okay, our volume, okay, keeps coming down, right? So it’s like you’re chasing your tail, like a dog chasing his tail, okay? So this got to stop.”
On this news, the price of TFI’s common stock fell $26.13 per share, or 20.5%, to close at $101.48 per share on February 20, 2025.
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