TFI International Inc.

On February 19, 2025, after the market closed, TFI announced its fourth quarter and full year 2024 financial results in a press release, revealing quarterly net income of $88.1 million (a nearly 33% decrease year-over-year) and fiscal 2024 net income of $422.5 million (approximately 16% decrease year-over-year).

On this news, TFI’s stock price fell $26.13, or 20.5%, to close at $101.48 per share on February 20, 2025, on unusually heavy trading volume.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was losing small and medium business customers; (2) that, as a result, the Company’s TForce revenue was declining; (3) that TFI was experiencing difficulties managing its costs; (4) that, as a result of the foregoing, the profitability of its largest business segment was declining; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.