NEW YORK, Sept. 20, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in FedEx Corporation (“FedEx” or the “Company”) (NYSE: FDX). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether FedEx and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On September 15, 2022, FedEx released preliminary financial results for the first quarter and announced plans to close storefronts and corporate offices while postponing hiring caused by drop-offs in its global package delivery business. FedEx further stated that Wall Street’s earnings target for the fiscal first quarter ended August 31, 2022 is unlikely to be met and that the company expects business conditions to weaken further in the current quarter amid weaker global volumes will.

As a result of this news, FedEx’s stock price fell $43.85 per share, or 21.4%, to close at $161.02 on September 16, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:

Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980