The trucking company's financial statements became decidedly more opaque after October 2015, when it set up an off-balance-sheet truck-leasing joint venture in which management held ownership.
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.
Founded in 2009, Spot Freight Inc. has been one of the area’s fastest-growing companies over the past several years.
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.
The trucking industry scored a victory this week when Republican lawmakers effectively blocked Obama administration safety rules aimed at keeping tired truckers off the highway.
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.
Trucking and logistics company Knight Transportation Inc. expects to add as many as 426 employees at its new Regional Operations Service Center in Plainfield by the end of 2021, the company announced Tuesday.
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.
Indianapolis-based trucking company Celadon Group Inc. topped Wall Street expectations with big increases in quarterly revenue and profit.