NEW YORK, NY - 
(NewMediaWire) - October 16, 2024 - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against United Parcel Service, Inc. (“UPS” or the “Company”) (NYSE: UPS) securities between January 30, 2024 and July 22, 2024 (the “Class Period”).
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than December 9, 2024 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process.
On July 23, 2024, UPS released financial results for the second quarter of 2024 and provided lower-than-expected guidance for the third quarter. The Company reduced its margin guidance for the full fiscal year 2024 due to a shift in “U.S. volume mix both in terms of product and customer segmentation . . . toward value products.”
On this news, the price of UPS stock fell $17.50 per share, over 12%, to close at $127.68 per share on July 23, 2024.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements about the Company’s volume growth, price discipline, cost execution and its overall ability to handle volume variabilities. Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of UPS’ growth; notably, that it was not truly equipped to handle a surge in volume in lower-profit services without seeing a significant decline in its operating margins.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
