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 was filed against Ryder, recently the Court denied the defendants motion to dismiss.
In 2020, a class action complaint was filed in federal court The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) failed to disclose that Ryder’s financial results were inflated as a result of the Company’s practice of overstating the residual values of the vehicles in its fleet; (2) there was no reasonable basis to believe that Ryder would sell its used vehicles for the amounts that it had assigned to them; (3) Ryder’s residual values for its fleet of vehicles exceeded the 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 a reasonable basis.
If you are a current, long-term shareholder of Ryder shares, you may have standing to hold Ryder harmless from the alleged harm caused by the Company's officers and directors by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you have continuously owned Ryder shares, you can click or copy and paste the link below in a browser to join this action:
https://www.cognitoforms.com/JohnsonFistel/RyderSystemInc
If you are interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) 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 derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
