Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Hub Group, Inc. (HUBG)

NEW YORK, June 30, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons or entities 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”).

The Complaint alleges that Defendants failed to disclose to investors the premature and incorrect revenue recognition of certain transactions, the understatement of purchased transportation costs and accounts payable, the effectiveness of internal controls, and drivers of financial results and growth.

The Complaint also alleges that on February 5, 2026, Hub Group announced that the Company’s financial statements for the first three quarters of 2025 should not be relied upon due to “an error that resulted in the understatement of purchased transportation costs and accounts payable in the first nine months of 2025.” The Complaint continues to allege that the Company revealed that its reports for those quarters “were in each case materially misstated due to the aforementioned error and should no longer be relied upon” and that “the Company [wa]s also continuing to assess the effectiveness of its disclosure controls and procedures and internal control over financial reporting and appropriate remediation steps.” The Complaint continues to allege that the Company also estimated that “[t]he total amount of the reduction to accounts payable and purchased transportation costs related to this issue that was recorded during these periods is $77 million.” The Complaint alleges that as such, Hub Group stated that it “plans to restate its financial statements for the first, second and third quarters of 2025.”

On this news, the price of Hub Group stock declined roughly 18%, from $51.33 per share at close on February 5, 2026, to $41.96 per share at close on February 6, 2026.

Investors who purchased or otherwise acquired shares of Hub Group should contact the Firm prior to the August 28, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

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