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R.US
id: 900

Ryder System (R) Financial Issues $45M Settlement

$45,000,000
Cash Settlement
S.D. Florida
Court
1:20-cv-22109
Case number
07/23/2015
Class period Start
02/13/2020
Class period End
09/11/2024
Claim deadline

Ryder (R) agreed to pay $45M to investors to resolve claims due to the financial misrepresentation.

Case Details:

Ryder was accused of overstating the expected residual value of its trucking fleet.
The truth came out in 2019 when Ryder reduced its earnings forecast due to declining truck values.
Subsequent disclosures in 2019 and 2020 revealed lower truck values, increased depreciation expenses, causing significant drop in $R.
Ryder has now decided to end the allegations and pay a $45M settlement.
Case Type
US Securities Class Action
Case Status
Distribution Preparation
Alleged Offence
Mismanagement, 
Misleading Statements, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.68
Filing date
10/05/2020
Plaintiffs
State of Alaska, Alaska Permanent Fund
Attorneys
Bernstein Litowitz Berger & Grossmann LLP
Defendants
Robert E. Sanchez; Art A. Garcia; Dennis C. Cooke
Judge
Kathleen M. Williams
Administrator
JND Legal Administration
Settlement agreement date
2023-05-19
Court hearing date
10/23/2024
Exclusion deadline
09/11/2024
Objection deadline
09/11/2024
Attorney fee
$11,743,914
Class wide damages
$1,072,000,000
Trades matching type
FIFO

Frequently Asked Questions

Who is eligible for this settlement?

All persons or entities who purchased or otherwise acquired publicly traded Ryder common stock during the period from July 23, 2015 through February 13, 2020, inclusive, and were damaged thereby.

Do I have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate.

You can participate in the settlement and retain (or sell) your securities.

How much will my payment be?

The final payout amount depends on your specific trades and the number of investors participating in the settlement.

If 100% of investors file their claims - the average payout will be $0.68 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $2.72 per share.

How long does the payout process take?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

What is 11thestate?

11thestate is an investor recovery company, we help investors to track and collect securities class action settlements. We will:

  1. Prepare documents for your payout

  2. Audit the claim and make sure you get the maximum possible payout

  3. File a claim with the settlement administration

  4. Correspond with the settlement administration to resolve emerging issues

  5. Deliver payout directly to your brokerage account

There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.