Swift Transportation Co (NYSE:SWFT) Investor Investigation Over Potential Securities Laws Violations Announced

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Company Name(s): 
Swift Transportation
Affected Securities: 

August 4, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Swift Transportation Co (NYSE:SWFT) shares over potential securities laws violations by Swift Transportation and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Swift Transportation Co (NYSE:SWFT) concerning whether a series of statements by Swift Transportation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Swift Transportation Co reported that its annual Total Revenue rose from over $3.77 billion in 2011 to over $4.11 billion in 2013 and that its respective Net income increased from $102.75 million to $155.42 million. Shares of Swift Transportation Co (NYSE:SWFT) grew from $6.47 per share in September 2011 to as high as $26.44 per share in March 2014.

Then on July 24, 2014, after the market closed, Swift Transportation Co announced its results for the second quarter 2014. Shares of Swift Transportation Co (NYSE:SWFT) dropped from 25.81 per share on July 24, 2014, to $20.87 per share on July 25, 2014 and declined to as low as $20.09 per share on August 1, 2014.