Ryder System, Inc.
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Ryder System, Inc. ("Ryder") on behalf of stockholders. A class action complaint has been filed against Ryder. The complaint alleges that defendants inflated Ryder's financial results by systematically overstating the residual value of its trucking fleet. While Ryder repeatedly increased the expected residual values of its trucks, the actual amount Ryder was receiving from sales of used trucks had started to decline beginning in 2015. Nevertheless, defendants assured investors that it had been "conservative" in establishing the residual values of trucks in its fleet. As a result of defendants' misrepresentations, shares of Ryder's common stock traded at artificially inflated prices.