THE LAWSUIT: A securities class action lawsuit has been filed against United Parcel Service, Inc.UPS), which aims to recover losses suffered by UPS shareholders as a result of suspected securities fraud between January 30, 2024 and July 22, 2024

CASE DETAILS: According to the complaint, the defendants provided investors with material information about UPS's expected revenue and adjusted operating margin for fiscal year 2024. Defendants' statements included, among other things, confidence in the Company's volume growth, pricing discipline, cost execution, and general ability to handle volume fluctuations. Defendants made these overwhelmingly positive statements to investors while simultaneously disseminating materially false and misleading statements and/or concealing material negative facts about the true state of UPS's growth; In particular, the company hasn't really been able to handle an increase in volume in lower-profit services without experiencing a significant decline in operating margins. Such statements without these material facts resulted in shareholders purchasing UPS securities at artificially inflated prices.

The truth came to light on July 23, 2024, when UPS announced its financial results for the second quarter of fiscal 2024, provided lower-than-expected guidance for the third quarter, lowered its margin forecast for the full fiscal 2024 results and lowered deferment guidance the “US volume mix in terms of both product and customer segmentation.” . . towards high-quality products.”

Investors and analysts immediately reacted to UPS's revelation. The price of UPS common stock fell dramatically. From a closing price of $145.18 per share on July 22, 2024, UPS's stock price fell to $127.68 per share on July 23, 2024, a decrease of $17.50 per share or approximately 12.05% within a single day.

WHAT’S NEXT? If you suffered a loss on UPS shares during the relevant period – even if you still hold your shares – go to https://zlk.com/pslra-1/united-parcel-service-inc-lawsuit-submission-form ? Wire=18 to learn more about your right to claim compensation. There are no costs or obligations for participation.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally recognized securities litigation firm, securing hundreds of millions of dollars for injured shareholders and establishing a track record of winning high-stakes cases. The firm has extensive experience representing investors in complex securities disputes and a team of over 70 employees serving our clients. For seven consecutive years, Levi & Korsinsky has been ranked among the top securities litigation law firms in the United States in the ISS Securities Class Action Services Top 50 report. Lawyer advertising. Previous results do not guarantee similar results.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th floor
New York, NY 10004
[email protected]
Phone: (212) 363-7500
Fax: (212) 363-7171
https://zlk.com/