CSX Corporation Investors: Company Investigated by the Portnoy Law Firm
Investors cancontactthe law firm at no cost to learn more about recovering their losses
LOS ANGELES, Nov. 05, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises CSX Corporation (“CSX” or “the Company”) (NASDAQ: CSX) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. CSX investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: info@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On August 5, 2024, CSX announced that it had identified discrepancies between its balance sheet and operating expenses in previously issued financial statements. This followed a review of the company's accounting treatment for engineering scrap and certain engineering support labor. Then, on October 17, 2024, CSX revealed that it had received a subpoena from the U.S. Securities and Exchange Commission (SEC) Enforcement Division, requesting information about the company's accounting restatement and related matters. CSX also stated that it had been responding to additional SEC inquiries concerning certain non-financial performance metrics.
In response to this news, CSX's stock price dropped by $2.38, or 6.71%, closing at $33.09 per share on October 17, 2024.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bars
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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