United Parcel Service, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The complaint states that during the class period, the defendants misled investors by suggesting they had reliable information about the Company’s revenue and growth expectations, while downplaying risks from seasonal and economic changes. In reality, UPS’s positive reports about growth, plans to manage volume changes, and claims that the first quarter would have the worst margins were not accurate. The Company was not prepared to handle a surge in volume without a significant drop in operating margin.
The plaintiff claims that the truth came out on July 23, 2024, when UPS released its second-quarter financial results, gave lower-than-expected guidance for the third quarter, and revised its margin expectations for the full fiscal year. The Company explained this by citing a shift in the U.S. volume mix towards lower-cost products. Following this announcement, UPS’s stock price dropped from $145.18 per share on July 22 to $127.68 per share on July 23, a decrease of $17.50 per share, or about 12.05%.
