On September 15, 2022, FedEx released its preliminary results for the first fiscal quarter. FedEx 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 also warned that it will miss targets on profitability and expects business conditions to worsen. Based on this news, shares of FedEx cratered by more than 22% in intraday trading on September 16, 2022.
Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of FedEx Corporation (NYSE: FDX) resulting from allegations that FedEx may have issued materially misleading business information to the investing public.
If you purchased FedEx securities and would like to join the prospective action, please click “Join This Class Action.”
Details of investigation:
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