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Scott+Scott Attorneys at Legislation LLP Investigates Ryder System, Inc.’s Administrators and Officers for Breach of Fiduciary Duties – R

Scott + Scott Lawyers LLP (“Scott + Scott”), an international securities and consumer litigation firm, is investigating whether certain directors and officers of Ryder System, Inc. (“Ryder”) (NYSE: R) have breached their trustee duties to Ryder and its shareholders. If you are a Ryder shareholder, you can contact Attorney Joe Pettigrew at 844-818-6982 or jpettigrew@scott-scott.com for additional information toll-free.

Scott + Scott is investigating whether members of the Ryder Board of Directors (the “Board of Directors”) have made false and / or misleading statements about Ryder’s business, business and prospects, or have caused false and / or misleading statements to be made or not disclosed and financial health. In particular, Scott + Scott is investigating whether the Board of Directors has failed to disclose material information, including whether: (1) Ryder increased its financial results by systematically overestimating the residual value of its truck fleet; and (2) as a result, statements about Ryder’s business, operations and prospects were lacking in reasonable grounds.

On July 30, 2019, Ryder slashed its full-year 2019 profit guidance, largely attributable to declining valuations of its trucks. On October 29, 2019, Ryder significantly reduced the residual value of its truck fleet and incurred additional depreciation charges of $ 177 million in the third quarter of 2019. On February 13, 2020, Ryder reported that the residual value had decreased significantly on its fleet for 2019 incurred additional depreciation charges totaling $ 357 million and a loss of $ 58 million from the sale of used vehicles. Ryder also announced that there will be an additional $ 275 million in depreciation charges on its fleet in 2020 and an estimated loss of $ 20 million on used vehicle sales. As a result of this information, the price of Ryder common stock fell sharply.

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What you can do

If you are a Ryder Shareholder, you may have legal claims against Ryder’s directors and officers. To discuss this investigation, or if you have any questions about this notice or your statutory rights, please contact Attorney Joe Pettigrew toll-free at 844-818-6982 or jpettigrew@scott-scott.com.

About Scott + Scott

Scott + Scott has extensive experience pursuing major securities, antitrust, and consumer law litigation in the United States. The company represents pension funds, foundations, individuals and other companies worldwide with offices in New York, London, Amsterdam, Connecticut, California and Ohio.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210203005835/de/

contacts

Joe Pettigrew
Scott + Scott Lawyers LLP
230 Park Avenue, 17th floor, New York, NY 10169
844-818-6982
jpettigrew@scott-scott.com

Originally published February 3, 2021, 11:34 a.m.

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