Hub Group, Inc. (NASDAQ: HUBG)

This lawsuit is for anyone who acquired securities in Hub Group, Inc. (NASDAQ: HUBG) from April 28, 2023 through May 11, 2026.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company maintained adequate controls over its purchased transportation costs and accounts payable when the Company lacked such controls.

On January 5, 2026, Hub Group disclosed it had “identified an error that resulted in the understatement of purchased transportation costs and accounts payable in the first nine months of 2025.” The Company determined that, as a result, financial statements for those periods should no longer be relied upon. The Company further stated it “expects to conclude that it did not maintain effective disclosure controls and procedures and internal control over financial reporting for the year ended December 31, 2025.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on May 12, 2026, Hub Group announced that it had “identified certain transactions that were prematurely or incorrectly recognized or not adequately supported,” causing its 2023 and 2024 annual reports filed with the SEC to be “materially misstated,” such that they “should no longer be relied upon.” The Company did not quantify the expected misstatement, although it “expect[ed] to conclude that it did not maintain effective disclosure controls and procedures and internal control over financial reporting for each of the years ended December 31, 2024 and 2023.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Hub Group, Inc. (NASDAQ: HUBG) from April 28, 2023 through May 11, 2026 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.