Wednesday, 13 May 2026 05:00 PM
Class Action
NEW YORK CITY, NY / ACCESS Newswire / May 13, 2026 / Pomerantz LLP is investigating claims on behalf of investors of Forward Air Corporation ("Forward Air" or the "Company") (NASDAQ:FWRD). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Forward Air and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 7, 2026, Forward Air reported its first quarter 2026 financial results and provided a customer and strategic alternatives update. Among other things, the Company disclosed operating revenues of $582.0 million, compared to $613.3 million in the prior-year period, representing a decrease of 5.1%. The Company also disclosed a net loss of $40.2 million and a net loss attributable to Forward Air of $34.3 million, or $1.09 per diluted share. Forward Air also disclosed that it was "currently in active discussions with one of its largest customers" regarding "the transition of a significant portion of their business with the Company to other providers." Forward Air further disclosed that the customer represented approximately $250 million of the Company's revenue for the fiscal year ended December 31, 2025, and was not a customer of Forward Air's Less Than Truckload or Intermodal businesses. Forward Air also provided an update on its strategic alternatives process. The Company disclosed that its review included "extensive negotiations and discussions with multiple parties," but that "due to a variety of factors, including the developments in Forward Air's relationship with the Customer, no actionable proposals for a sale of the Company were ultimately received."
On this news, Forward Air's stock price fell $7.46 per share, or 43.05%, to close at $9.87 per share on May 8, 2026.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP