San Diego, CA -- (ReleaseWire) -- 07/22/2014 -- An investigation on behalf of investors in NYSE:FDX shares was announced over potential breaches of fiduciary duties by certain FedEx officers and directors that caused damages to the company and NYSE:FDX stockholders in connection with the recently announced indictment.
Investors who are current long-term stockholders in FedEx Corporation (NYSE:FDX) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether FedEx Corporation and certain of its executives violated federal securities laws.
On July 17, 2014, the FDA announces that the U.S. Attorney for the Northern District of California charged the FedEx Corporation with conspiring with two separate but related online pharmacy organizations to distribute controlled substances and prescription drugs to U.S. consumers without requiring their customers to have a valid prescription, as required by the Federal Food, Drug, and Cosmetic Act. The FDA said that according to the indictment, as of July 2004, FedEx Corporation employees had identified over 200 accounts that were associated with online pharmacies and by September of 2010, the list had increased to over 600 online pharmacy accounts.
On July 17, 2014, FedEx Corporation announced in a regulatory filing that it has received, "requests for information from the U.S. Department of Justice ("DOJ") in the Northern District of California in connection with a criminal investigation relating to the transportation of packages for online pharmacies that may have shipped pharmaceuticals in violation of federal law. On July 17, 2014, the DOJ filed a criminal indictment in the United States District Court for the Northern District of California in connection with the matter. The indictment alleges that FedEx Corporation, FedEx Express and FedEx Services, together with certain pharmacies, conspired to unlawfully distribute controlled substances, unlawfully distributed controlled substances and conspired to unlawfully distribute misbranded drugs."
Shares of FedEx Corporation (NYSE:FDX) declined from over $155 per share on July 17, 2014, to as low as $151.23 per share on July 18, 2014.
Those who purchased shares of FedEx Corporation have certain options and should contact the Shareholders Foundation.
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