NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against CSX Corporation (“CSX” or the “Company”) (NASDAQ: CSX).
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
On August 5, 2024, CSX announced it had "identified misstatements between the balance sheet and operating expense in previously issued financial statements" after the Company "completed a review of the accounting treatment for engineering scrap and certain engineering support labor."
Then on October 17, 2024, CSX revealed it had received a subpoena from the Enforcement Division of the U.S. Securities and Exchange Commission ("SEC") requesting information relating to, among other things, the accounting restatement disclosed in the Company's August 5, 2024 10-Q. The Company further revealed it "has also been responding to information requests by the SEC related to certain of the Company's non-financial performance metrics."
On this news, the Company's share price fell as much as 5.8% during intraday trading on October 17, 2024, thereby injuring investors.
To learn more about the CSX Corporation investigation, go to www.faruqilaw.com/CSX or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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