Shares in the Indianapolis-based trucking company dropped as much as 67 percent Tuesday morning. At least 16 law firms say they have filed lawsuits against the company or are investigating doing so.
The Indianapolis-based trucking company is dealing with auditing issues, liquidity challenges and scrutiny from its lenders. It expects to report a $10 million quarterly loss.
Indianapolis-based Celadon Group Inc. is banking that a new federal food safety rule will help it take a bite out of its competition—in part because smaller carriers won’t be able to afford to comply.
The plaintiff says he was harmed financially because he purchased Celadon stock at “artificially inflated prices.” The company’s shares declined after allegations of misleading statements and a federal probe.
Changes in trade policy would reverberate across Indiana, given its status in a new Brookings Institution study as the most export-dependent state in the country.
The Indiana Court of Appeals upheld a 2014 decision ordering Celadon to pay more than $4 million to a group of drivers in a dispute over fuel costs.
Indianapolis-based trucking company Celadon Group Inc. on Wednesday announced quarterly financial results that topped analyst predictions.
The Indianapolis-based trucking and logistics company, which is building a $28 million corporate campus in Hancock County, has been approved for almost $3 million in state economic incentives.
Celadon Group Inc. shares tumbled Thursday morning, a day after the Indianapolis-based trucking company reported a loss of $2.9 million, or 10 cents per share, in its latest quarter.
The trucking company had a profit of $1.6 million in the fiscal fourth quarter, down almost 87 percent from the $12 million it made in the same quarter a year ago.
The three children of the late Celadon Group cofounder Steve Russell filed a will contest Wednesday alleging his second wife boosted her inheritance from his $31 million estate by taking advantage of his dementia.
Steve Russell started Celadon Group Inc. in 1985 and built it into one of the most-recognized trucking companies in the country, as well as one of the largest public companies in Indianapolis.
Three former truckers are suing Celadon and seeking class-action status for “thousands” of drivers, claiming the company violated state and federal laws by hiring them as independent contractors.
Celadon CEO Paul Will said quarterly earnings were hurt by $1.2 million in expenses related to the company’s acquisition of Tango Transport during the quarter.