The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Hub Group, Inc. (“Hub Group” or the “Company”) (NASDAQ: HUBG) securities between April 28, 2023 and May 11, 2026, inclusive (the “Class Period”). Hub Group investors have until August 28, 2026 to file a lead plaintiff motion.

What Happened?

On February 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, Hub Group’s stock price fell $9.34, or 18.3%, to close at $41.96 per share on February 6, 2026, thereby injuring investors.

Then, on May 12, 2026, Hub Group disclosed that additional financial statements from 2023 and 2024 would need to be restated after the Company had “identified certain transactions that were prematurely or incorrectly recognized or not adequately supported.” The Company also announced that it would be unable to timely file its first quarter 2026 financial report as well as its full year 2025 annual report.

On this news, Hub Group’s stock price fell $5.24, or 12.5%, to close at $36.62 per share on May 12, 2026, thereby injuring investors further.

What Is The Lawsuit About?

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 that: (1) the Company’s financial statements prepared for the periods from Q1 2023 to Q4 2024 contained material misstatements caused by the premature and incorrect recognition of certain transactions; (2) the Company’s financial statements prepared for the periods from Q1 2025 to Q3 2025 contained material misstatements caused by the understatement of purchased transportation costs and accounts payable; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.