Ryder System, Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Ryder System, Inc. (NYSE: R) securities between July 23, 2015 and February 13, 2020.
According to the Ryder lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) 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 upon the sale of those vehicles; 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.
“Ryder System, Inc. “
If you suffered a loss in Ryder you have until July 20, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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