{"id":977277,"date":"2026-06-30T13:40:47","date_gmt":"2026-06-30T17:40:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-hub-group-inc-hubg\/"},"modified":"2026-06-30T13:40:47","modified_gmt":"2026-06-30T17:40:47","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-hub-group-inc-hubg","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-hub-group-inc-hubg\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Hub Group, Inc. (HUBG)"},"content":{"rendered":"
\n

NEW YORK, June 30, 2026 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired Hub Group, Inc. (\u201cHub Group\u201d or the \u201cCompany\u201d) (NASDAQ: HUBG) securities between April 28, 2023 and May 11, 2026, inclusive (the \u201cClass Period\u201d).<\/p>\n

The Complaint alleges that Defendants failed to disclose to investors the premature and incorrect revenue recognition of certain transactions, the understatement of purchased transportation costs and accounts payable, the effectiveness of internal controls, and drivers of financial results and growth.<\/p>\n

The Complaint also alleges that on February 5, 2026, Hub Group announced that the Company\u2019s financial statements for the first three quarters of 2025 should not be relied upon due to \u201can error that resulted in the understatement of purchased transportation costs and accounts payable in the first nine months of 2025.\u201d The Complaint continues to allege that the Company revealed that its reports for those quarters \u201cwere in each case materially misstated due to the aforementioned error and should no longer be relied upon\u201d and that \u201cthe Company [wa]s also continuing to assess the effectiveness of its disclosure controls and procedures and internal control over financial reporting and appropriate remediation steps.\u201d The Complaint continues to allege that the Company also estimated that \u201c[t]he total amount of the reduction to accounts payable and purchased transportation costs related to this issue that was recorded during these periods is $77 million.\u201d The Complaint alleges that as such, Hub Group stated that it \u201cplans to restate its financial statements for the first, second and third quarters of 2025.\u201d<\/p>\n

On this news, the price of Hub Group stock declined roughly 18%, from $51.33 per share at close on February 5, 2026, to $41.96 per share at close on February 6, 2026.<\/p>\n

Investors who purchased or otherwise acquired shares of Hub Group should contact the Firm prior to the August 28, 2026<\/em><\/strong> lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, June 30, 2026 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired Hub Group, Inc. (\u201cHub Group\u201d or the \u201cCompany\u201d) (NASDAQ: HUBG) securities between April 28, 2023 and May 11, 2026, inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants failed to disclose to investors the premature and incorrect revenue recognition of certain transactions, the understatement of purchased transportation costs and accounts payable, the effectiveness of internal controls, and drivers of financial results and growth. The Complaint also alleges that on February 5, 2026, Hub Group … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Hub Group, Inc. (HUBG)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-977277","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Hub Group, Inc. 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