NEW YORK, NY - July 2, 2026 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Hub Group, Inc. (“Hub Group” or the “Company”) (NASDAQ: HUBG) on behalf of investors that purchased or otherwise acquired Hub Group securities between April 28, 2023 and May 11, 2026 (the “Class Period”).
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If you are an investor in Hub Group and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than August 28, 2026 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery.
On February 5, 2026, Hub Group announced preliminary fourth quarter and full year 2025 results and disclosed the identification of a $77 million accounting error due to “the understatement of purchased transportation costs and accounts payable in the first nine months of 2025.” Additionally, the Company said it “plans to restate its financial statements for the first, second and third quarters of 2025,” and “is continuing to assess the potential impact to its consolidated financial statements for the years ended December 31, 2024 and 2023.”
On this news, the price of Hub Group stock fell $9.37 per share, or 18.25%, to close at $41.96 per share on February 6, 2026.
Then, on May 12, 2026, Hub Group announced that it had “identified certain transactions that were prematurely or incorrectly recognized or not adequately supported,” causing its 2023 and 2024 annual reports filed with the SEC to be “materially misstated,” such that they “should no longer be relied upon.” The Company did not quantify the expected misstatement, although it stated that it “expects to conclude that it did not maintain effective disclosure controls and procedures and internal control over financial reporting for each of the years ended December 31, 2024 and 2023.”
On this news, the price of Hub Group stock fell $5.24 per share, about 12.5%, to close at $36.62 per share on May 12, 2026.
The complaint alleges, among other things, that throughout the Class Period, the Company’s financial statements contained material misstatements caused by the premature and incorrect recognition of certain transactions and other material misstatements caused by the understatement of purchased transportation costs and accounts payable.
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CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1501
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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