LOS ANGELES, July 01, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Hub Group, Inc., (“Hub” or the "Company") (NASDAQ: HUBG) investors of a class action on behalf of investors that bought securities between April 28, 2023 and May 11, 2026, inclusive (the “Class Period”). Hub investors have until August 28, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/hub-group-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
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 announced that the Company's financial statements for the first three quarters of 2025 should not be relied upon due to "an error that resulted in the understatement of purchased transportation costs and accounts payable in the first nine months of 2025." The Complaint continues to allege that the Company revealed that its reports for those quarters "were in each case materially misstated due to the aforementioned error and should no longer be relied upon" and that "the 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." The Complaint continues to allege that the Company also estimated that "[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." The Complaint alleges that as such, Hub Group stated that it "plans to restate its financial statements for the first, second and third quarters of 2025."
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.
The Portnoy Law Firm represents investors in pursuing claims 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 Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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