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Law Offices of Howard G. Smith announces an investigation on behalf of investors of Echo Global Logistics, Inc. ("Echo" or the "Company") (NYSE: ECHO) concerning the Company and its officers' possible violations of federal securities laws.
Echo provides technology-enabled transportation and supply chain management solutions in the United States. It purportedly uses a proprietary technology platform to compile and analyze data from its multi-modal network of transportation providers for the transportation and logistics needs. The Company has grown through the acquisition of several logistics companies over the years.
On September 8, 2016, Spruce Point Capital Management ("Spruce Point") issued a report alleging that Echo's management and founders have misled Company investors regarding Echo's technology and competitive advantage, as well as misleading investors regarding the success of Echo's acquisitions. The Spruce Point report further alleges that Echo's recent headquarter lease expansion placed Echo in violation of a debt covenant; and that "rampant accounting and financial concerns" are "evident," at the Company.
On this news, Echo stock fell over 8% during intraday trading on September 8, 2016.
If you purchased Echo securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160908006502/en/
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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