|[July 18, 2014]
FEDEX INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates FedEx Corporation Following Disclosure of Department of Justice Indictment
NEW ORLEANS --(Business Wire)--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. a
partner at the law firm of Kahn Swick & Foti, LLC ("KSF") announces that
KSF has commenced an investigation into FedEx Corporation (NYSE: FDX).
On July 17, 2014, the Department of Justice ("DOJ") announced that it
had issued a 15-count indictment charging FedEx with conspiracy to
distribute controlled substances for its alleged role in transporting
painkillers and other prescription drugs that had been sold illegally.
If FedEx is found guilty, it faces a potential fine of at least $1.6
billion, along with restitution and forfeiture of profits. The DOJ
stated that, as early as 2004, "FedEx knew that it was delivering drugs
to dealers and addicts" as FedEx's couriers "expressed safety concerns
that were circulated to FedEx Senior management, including that FedEx
trucks were stopped on the road by online pharmacy customers demanding
package of pills." In response to these safety concerns, "FedEx adopted
a procedure whereby Internet pharmacy packages from problematic shippers
were held for pick up at specific stations, rather than delivered to the
KSF's investigation is focusing on whether FedEx's officers and/or
directors breached their fiduciary duties to FedEx's shareholders or
otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or
have been a long-term holder of FedEx shares and would like to discuss
your legal rights, you may, without obligation or cost to you, e-mail or
call KSF Managing Partner Lewis Kahn (firstname.lastname@example.org)
or KSF Partner Melinda Nicholson (email@example.com)
toll free at 1-877-515-1850.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities class action
and shareholder derivative litigation with offices in New York,
California and Louisiana. KSF's lawyers have significant experience
litigating complex securities class actions nationwide on behalf of both
institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
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