NEW YORK, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against CSX Corporation (“CSX” or the “Company”) (NASDAQ: CSX) on behalf of CSX stockholders. Our investigation concerns whether CSX has violated the federal securities laws and/or engaged in other unlawful business practices.
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On August 5, 2024, CSX announced it had "identified misstatements between the balance sheet and operating expense in previously issued financial statements" after the Company "completed a review of the accounting treatment for engineering scrap and certain engineering support labor."
Then on October 17, 2024, CSX revealed it had received a subpoena from the Enforcement Division of the U.S. Securities and Exchange Commission ("SEC") requesting information relating to, among other things, the accounting restatement disclosed in the Company's August 5, 2024 10-Q. The Company further revealed it "has also been responding to information requests by the SEC related to certain of the Company's non-financial performance metrics."
On this news, the Company's share price fell as much as 5.8% during intraday trading on October 17, 2024, thereby injuring investors.
If you purchased or otherwise acquired CSX shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
