BENSALEM, Pa.--(BUSINESS WIRE)--
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 [email protected],
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.
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