Practice Area:
Stock Symbol:
PAL
Case Status:
Investigations
Class Period:
May 15, 2024
Motion Deadline:
October 16, 2024
Ademi & Fruchter LLP is investigating possible securities fraud claims against Proficient Auto Logistics (NASDAQ: PAL). The investigation results from inaccurate statements Proficient Auto Logistics made regarding its business operations and prospects.
The investigation focuses on Proficient Auto Logistics’ October 16, 2024 update of its financial results just a few months after the completion of its IPO. Proficient Auto Logistics reported an expected decline in revenues of between 14 - 16% for its third quarter results compared to combined revenue for the third quarter of 2023. Its stock dropped more than 28% and has yet to recover.
The investigation covers the period between May 2024 and October 2024.