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Yellow | Robbins Geller Rudman & Dowd LLP Files Class Action Suit against YRC Worldwide Inc.

ZollarsIsSmart said:
Well these "BOOKS" as you say where also opened to the Union to go over to see if they where in true financial troubles. When did that first vote go out December 08? So the union must have reviewed them before YRCW asked them for a vote? We then took our first concession In January 09? We then Voted again on a second concession in what June of 09? So in order for the Union to see that they where in financial trouble they had to look at the books yet again. Did the company lay these books out to the union, but not to these investment firms that purchase shares of YRCW? One of two things happened, the union lied to us by saying they looked at the books, or YRCW lied to investors?
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Ya know, imho, The whole bs story of the pos onion going over the books is outrageous! If I recall, our illustrious local said the onion spent 2-3 days going over the books, bull effing :::shit:::! I assure you it would take 10x that to actually go through and verify all the entries of a company that size if not longer and thats if the idiots from the onion knew what they were looking at and for. And if I recall, weren't the chinese operations off limits.
Nothing but a WHAM, BAM, THANK YOU YES MAN!!!

PS: Whats the latest on pos jimmy and the bribery attempt?
 
Kennesaw Kid said:
While I do agree with you on the first part.....that second part is bullshit....as the votes were not rigged.....KK
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I don't question the counting, I question the chain of possession of all the bags of ballots and who handled them.
 
tiredofbs said:
The previous were just questions and in no way meant as an accusation. They should be answered by someone if for no other reason than so many teamsters families lives are now on hold while this plays out.
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What A great post. Also good questions. Let me answer your question about the union, the way I was answered the question about the vote(Exaggerated a bit to get the point across). We saw and went over the information/books/financial statement's. They then presented the information to YOU, YEAH YOU, YES YOU YRC EMPLOYEES. Then YOU and ONLY YOU voted on the information they provided to YOU. YOU voted YES, and YOU are left holding the bag, not us the union. Not in anyway was the vote falsified or fixed, YRC employees voted on fear of losing a job, something the union said would happen if a no vote came through.... The simplest of questions is did YRC show the union false information just 6 short mos after the contract, or did YRC show investors bogus information? They lied to someone. And what this has nothing to do with ABF.
 
it seems to me if im wright a class action suit is by a lot of plaintiffs . i may be wrong. and the law firm has how many lawyers. i heard there is 180 . , the cost alone makes me say., wowwwwwwwwww.
 
Throughout the balance of the Class Period, the complaint alleges that YRC continued to deceive the investing public by making positive financial announcements about the Company until November 2, 2009, when YRC shocked investors when it revealed, for the first time, that the Company was performing well below expectations and that it now expected to convert over half a billion dollars of debt into shares of Company stock, thereby effectively giving bondholders as much as 95% of the equity of the Company and resulting in the resignation of seven of its nine directors. Shares of YRC stock plummeted on this news--falling 64% on a single trading day, or over $2.30 per share on huge volume of 54.8 million shares traded, over five times the stock's average daily volume over the past three months, to close at only $1.32 per share on November 2, 2009.
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This could be legit..I remember thinking..
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when the stock came tumbling down. I took a hit on that one
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Yeah, according to the Class Action Lawsuit..Words like false, misleading, misrepresented, overstated and artifically inflated just to name a few.What it boils down to is they cooked the books and decieved the investing Public to show the Company was more profitable than it actually was to get investors to come on board then in Nov. of 2009 they then informed investors that they were performing (WELL Below) expectations. HMMM~ looks like someone is going to call them out on it...wonder what books they will show them this time if they haven't already (Burned) them.
 
bullfrog75 said:
.What it boils down to is they cooked the books and decieved the investing Public to show the Company was more profitable than it actually was to get investors to come on board then in Nov. of 2009 they then informed investors that they were performing (WELL Below) expectations.
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They then in November started the Debt for Equity. A little over a year later pow, reverse stock split with a ratio of 1:25.
 
bullfrog75 said:
Yeah, according to the Class Action Lawsuit..Words like false, misleading, misrepresented, overstated and artifically inflated just to name a few.What it boils down to is they cooked the books and decieved the investing Public to show the Company was more profitable than it actually was to get investors to come on board then in Nov. of 2009 they then informed investors that they were performing (WELL Below) expectations. HMMM~ looks like someone is going to call them out on it...wonder what books they will show them this time if they haven't already (Burned) them.
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Looks like arthur andersen is doing the yrcw books too!:biglaugh:
 
read all about it
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penny stock YRC accused of cheating day traders out of hundreds of dollars and they're not gonna take it any more
 
Funny they would pull the PDF link down........Wonder why. Its gone and I can find it no where.
 
the accounting has been known to be a bit on the aggressive side at times but I doubt they would cross the line and risk going criminal about it..
I mean it's a casino game. Stay up too long and you lose
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I smell a rat​
 
If they win the lawsuit, Robbins Geller Rudman and Dowd each get a million dollars and the shareholders in the class will get YRCW stock options at $12 a share. Then several months later when the stock has dropped to $.50 there will be a 20 to 1 reverse split.
 
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