An investigation for investors in FedEx Corporation (NYSE:FDX) shares over potential securities laws violations by FedEx Corporation was announced.
San Diego, CA -- (SBWIRE) -- 10/05/2022 -- FedEx Corporation is under investigation on over potential securities laws violations by FedEx Corporation in connection with certain financial statements.
Investors who purchased shares of FedEx Corporation (NYSE: FDX), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by FedEx Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Memphis, TN based FedEx Corporation reported that its Total Revenue rose from over $83.95 billion for the 12 months period that ended on May 31, 2021, to over $93.51 billion for the 12 months period that ended on May 31, 2022, and that its Net Income over those respective time periods declined from over $5.23 billion to over $3.82 billion.
On September 15, 2022, FedEx Corporation released its preliminary results for the first fiscal quarter. FedEx Corporation warned of a global drop-off in its delivery business and that it would be closing storefronts and putting off hiring staff to combat the drop. FedEx Corporation also warned that it will miss targets on profitability and expects business conditions to worsen.
Shares of FedEx Corporation (NYSE: FDX) declined from $248.76 per share on June 28, 2022, to as low as $141.92 per share on September 27, 2022.
Those who purchased shares of FedEx Corporation (NYSE: FDX) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.