Are additional Celadon execs in prosecutors’ sights?
The Justice Department’s April 25 press release—which announced Celadon had admitted to the fraud and agreed to pay $42 million in restitution—closes by noting that the investigation is ongoing.
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Celadon Group makes fourth divestiture in past month
The Indianapolis-based trucking company announced Friday that it has sold its intermodal operations to Winnipeg, Manitoba-based Bison Transport.
UPDATE: Celadon ordered to pay $42 million after admitting securities fraud
The Indianapolis-based trucking company admitted to “filing materially false and misleading statements to investors and falsifying books, records and accounts,” federal prosecutors said. One former executive also was charged with fraud.
Celadon Group sells two subsidiaries for $139.5 million
The Indianapolis-based trucking company said the divestitures are part of its larger plan to streamline operations and reduce its debt load.
Indianapolis-based trucking firm Celadon Group switches auditors
The move comes as Celadon works through a host of accounting and financial issues that were first announced in May 2017.
Celadon CEO Svindland recovering after brain surgery
CEO Paul Svindland is recovering at home following surgery last week to remove a benign brain tumor, the Indianapolis-based trucking company said Tuesday.
Fast-growing logistics-software startup plans to hire 90
FreightRover—which began as part of the Indianapolis trucking company Celadon Group—sells software that helps clients optimize freight flow and streamline carrier payments for shippers, carriers and drivers.
Celadon investors agree to settle class-action suit for $5.5M
The settlement, which is awaiting court approval, would resolve suits brought by several parties over financial-reporting issues that have plagued Celadon for at least four years. The plaintiffs expressed concern that the company would go bankrupt before any recovery could be made.
Celadon admits it is under federal criminal investigation
The Indianapolis-based trucking company said the probe by the Criminal Division of the United States Department of Justice is related to financial reporting issues that it first disclosed in May 2017.
Celadon drivers finally getting their checks from $4.2M judgement
About 2,400 independent drivers for Indianapolis-based Celadon Trucking Services Inc. are seeing the results of a class-action judgment that found the drivers were overcharged for their fuel purchases.
Trucking firm Celadon offered $200M loan in exchange for fifth of company
The struggling Indianapolis-based company said it has arranged a much-needed loan but must give up a major ownership stake and board seats to receive it.
Celadon’s financial-reporting issues much worse than expected
An internal probe found Celadon overstated earnings by as much as $250 million from 2013 to 2016. The local trucking company said it will be delisted from the New York Stock Exchange.
Celadon revises credit agreement with lenders
Indianapolis-based trucking company Celadon Group Inc. on Tuesday announced it has reached a new agreement in its ongoing effort to get its financial house in order.
Celadon gets six-month extension from NYSE to avoid delisting
The extension gives Celadon until May 2 to file several delinquent quarterly and annual financial reports with the Securities and Exchange Commission.
Celadon stops HQ construction, refocuses on core trucking business
The trucking giant is canceling its $28 million Mount Comfort headquarters, selling its flatbed unit, and outsourcing its driver schools, to refocus on core business as the industry is expected to boom.
Celadon continues to reshape executive office with new CFO
The move comes as the Indianapolis-based trucking company works through financial, accounting and operational issues.
Celadon Group acknowledges investigation by SEC
The Indianapolis-based transportation company confirmed something that has been speculated for months: The trucking company is under investigation by the U.S. Securities and Exchange Commission.
Celadon getting out of truck driver education business
Indianapolis-based Celadon Group Inc. is exiting the driver-education business, five years after spending heavily to launch the driving schools as a way to combat an ongoing shortage of qualified truck drivers.
Celadon’s hiring of turnaround expert sends stock soaring
Investors and analysts are reacting positively to Celadon Group Inc.’s decision to bring in an outside executive with years of transportation industry experience to run the company.
Celadon hires new CEO as Will announces departure
Struggling trucking firm Celadon Group Inc. is bringing in a new chief executive to replace Paul Will later this month, the Indianapolis-based company announced Thursday afternoon.