Q: Your comments please regarding the two law firms initiating class action suits against TFII. Is this just the ambulance chasers again swinging into action due to the severe price drop?
5i Research Answer:
These types of lawsuits are essentially nearly guaranteed anytime a stock drops a lot. They are very hard to prove, and amount to 'well, management should have known'. On occasion, a company will make a small payment to make them go away. We would not consider them material in any way and would not consider them in any buy/sell/hold decision on the stock.