Faruqi and Faruqui, LLP Logo
Share this page

Celadon Group, Inc. (CGI)

NYSE:CGI

Summary

Faruqi & Faruqi, LLP is Investigating Celadon Group, Inc. (CGI) on Behalf of its Shareholders

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential misconduct at Celadon Group, Inc. (“Celadon” or the “Company”) (NYSE:CGI).

The investigation focuses on whether the Company’s Board of Directors and/or its officers committed mismanagement and breached their fiduciary duties by making and/or causing the Company to make false and misleading statements and/or failing to timely disclose that: (i) Celadon did not appropriately recognize revenue equipment held for sale in its financial statements; (ii) Celadon’s equity contribution to its joint venture with Element Financial Corp. was $68.2 million, as opposed to the $100 million contribution that the Company reported in its public filings; and (iii) Celadon failed to maintain an effective system of internal controls over financial reporting.  Additionally, on May 1, 2017, the Company filed a Form 8-K with the SEC attaching a letter from BKD LLP (“BDK”), the Company’s independent auditor, revealing that BDK was withdrawing its previously issued reports on the June 30, 2016, September 30, 2016 and December 31, 2016 financial statements of Celadon.  As a result of the foregoing, Celadon is currently facing a securities class action lawsuit and an SEC investigation.

Take Action

If you currently own Celadon stock and have continuously owned Celadon stock since at least January 2016 and would like to discuss your legal rights, please fill out the form below.  You can also contact us by calling Nina Varindani or Stuart Guber toll free at (212) 983-9330 or by sending an e-mail to nvarindani@faruqilaw.com or sguber@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Celadon’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form below and we will provide you with additional
information on how to join the Action.

  • Company:
    Celadon Group, Inc. (CGI)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Stuart J. Guber
Nina Varindani
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 08/08/2017

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.