Investors who purchased or acquired securities of Hub Group, Inc. (NASDAQ: HUBG) between April 28, 2023, and May 11, 2026, are reminded of the critical August 28, 2026, deadline to file a motion to serve as lead plaintiff in the ongoing securities fraud class action lawsuit. Kaplan Fox & Kilsheimer LLP issued a new notice on August 25, 2026, emphasizing that eligible investors may seek compensation through a contingency fee arrangement and urging those with losses to participate.

Robbins Geller Rudman & Dowd LLP announced on August 25, 2026, that purchasers or acquirers of Hub Group securities during the Class Period have until August 28, 2026, to seek appointment as lead plaintiff. The firm highlighted its status as one of the world’s leading law firms representing investors in securities fraud litigation, noting it ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. Robbins Geller states it recovered $8.4 billion for investors over the past five years—$3.4 billion more than any other law firm—and obtained the largest ever securities class action recovery of $7.2 billion in In re Enron Corp. Sec. Litig. Investors can contact attorneys Ken Dolitsky or Michael Albert at 800/851-7783 or via e-mail at info@rgrdlaw.com .

Kaplan Fox specifically urged investors to contact the firm to learn more about the lead plaintiff process, noting that those with losses are encouraged to participate. The firm highlighted its status as a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, Kaplan Fox stated it has recovered more than $10 billion for clients and classes represented, including landmark recoveries for Bank of America shareholders ($2.425 billion) and Merrill Lynch shareholders ($475 million). Kaplan Fox is widely regarded as one of the nation’s premier plaintiffs’ securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon.

Pomerantz LLP, The Rosen Law Firm, Glancy Prongay Wolke & Rotter LLP, Bleichmar Fonti & Auld LLP, Holzer & Holzer, LLC, Hagens Berman Sobol Shapiro LLP, Bragar Eagel & Squire, P.C., Kirby McInerney LLP, Robbins LLP, The Gross Law Firm, Kahn Swick & Foti, LLC, Levi & Korsinsky LLP, The Portnoy Law Firm, and Bernstein Liebhard LLP have also issued notices emphasizing that eligible investors may seek compensation through a contingency fee arrangement. Additionally, the Law Offices of Howard G. Smith has reminded investors of the deadline, urging those with losses to contact Howard G. Smith at (215) 638-4847 or howardsmith@howardsmithlaw.com . Kahn Swick & Foti, LLC, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., also reminded investors with substantial losses of the deadline. Levi & Korsinsky highlighted that there is no minimum loss threshold to apply, though courts typically appoint the investor with the largest financial interest. This procedural step is vital for investors wishing to direct the litigation strategy on behalf of the class under the Private Securities Litigation Reform Act (PSLRA). Those with losses exceeding $100,000 are specifically encouraged to participate.

Bernstein Liebhard LLP has issued a new reminder reminding Hub Group investors of the upcoming deadline. The firm encourages investors to act promptly and submit a form or contact Investor Relations Manager Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com . Bernstein Liebhard states it has recovered over $3.5 billion for clients since 1993 and has been named to The National Law Journal’s "Plaintiffs’ Hot List" thirteen times.

The Rosen Law Firm has issued a reminder encouraging investors to select qualified counsel with a track record of success in leadership roles, noting that some firms issuing notices may act merely as middlemen. The firm emphasizes its global practice in securities class actions and shareholder derivative litigation, citing past recoveries and rankings. Rosen Law Firm states it achieved the largest ever securities class action settlement against a Chinese Company and was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and recovered billions of dollars for investors, including over $438 million in 2019 alone. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

The Portnoy Law Firm advises Hub Group investors of the class action on behalf of those who bought securities during the class period. Investors are encouraged to contact attorney Lesley F. Portnoy at 310-692-8883 or lesley@portnoylaw.com to discuss their legal rights or join the case. The firm notes it can provide a complimentary case evaluation and discuss options for pursuing claims to recover losses. The founding partner of The Portnoy Law Firm has recovered over $5.5 billion for aggrieved investors.

Kahn Swick & Foti, LLC noted it was ranked among the top 10 firms nationally based on total settlement value by SCAS this past year. Levi & Korsinsky noted it has been ranked in the ISS Top 50 for seven consecutive years. Investors are advised to be wise in selecting counsel, as a lead plaintiff acts as a representative party directing the litigation on behalf of other class members.

Bleichmar Fonti & Auld LLP (BFA Law), which filed the complaint captioned Lawler v. Hub Group, Inc., No. 1:26-cv-07596, is also actively seeking representation. BFA Law highlights its status as a leading international law firm named top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS. Recently, The Legal 500 awarded BFA the most client satisfaction accolades of any plaintiff’s securities litigation law firm. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd.

Hagens Berman Sobol Shapiro LLP has also notified investors of the deadline. The firm represents investors in securities fraud and shareholder rights litigation, with 90 attorneys in 10 offices. Attorney Reed Kathrein at Hagens Berman can be contacted at 844-916-0895 or HUBG@hbsslaw.com .

ClaimsFiler, a free shareholder information service, has issued a new reminder regarding the August 28, 2026 deadline. The service encourages investors to visit their website or call toll-free (833) 538-3601 for assistance. Lawyers at Kahn Swick & Foti, LLC are available through this platform to discuss legal options. ClaimsFiler aims to help retail investors recover shares of settlements by providing access to case information and enabling portfolio uploads for relevant case notifications.

SueWallSt, powered by Levi & Korsinsky LLP, has notified investors of the lawsuit filed on behalf of those who suffered losses in Hub Group securities. SueWallSt emphasizes that Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and has ranked in the ISS Top 50 Report for seven consecutive years. Investors are encouraged to submit their information via SueWallSt or contact Joseph E. Levi, Esq., at jlevi@SueWallSt.com or (888) SueWallSt.

The lawsuit is pending in the U.S. District Court for the Northern District of Illinois. It alleges that defendants made materially false and misleading statements while failing to disclose adverse facts concerning the company’s business operations and financial reporting integrity throughout the class period. The core of the litigation revolves around significant accounting errors that were disclosed in corrective filings during 2026, which subsequently triggered sharp declines in Hub Group’s stock price.

Alleged Accounting Errors and Market Impact

The complaint highlights two major corrective disclosures that revealed systemic accounting failures. On February 5, 2026, Hub Group announced preliminary fourth quarter and full year 2025 results and disclosed the identification of a $77 million accounting error due to "the understatement of purchased transportation costs and accounts payable in the first nine months of 2025." Additionally, the company said it "plans to restate its financial statements for the first, second and third quarters of 2025," and "is continuing to assess the potential impact to its consolidated financial statements for the years ended December 31, 2024 and 2023." This disclosure rendered financial statements for those periods unreliable and led the company to conclude it did not maintain effective internal controls over financial reporting for the year ended December 31, 2025. Following this news, shares fell 18.25% from $51.33 per share at close on February 5, 2026, to $41.96 per share at close on February 6, 2026.

A second disclosure on May 12, 2026, revealed that financial statements from 2023 and 2024 required restatement due to prematurely or incorrectly recognized transactions. 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 stated that it "expects 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." Hub Group also announced delays in filing its first quarter 2026 and full year 2025 reports. Shares dropped a further 12.5%, from $41.86 per share at close on May 11, 2026, to $36.62 per share on May 12, 2026. In total, shares fell a cumulative $14.71 per share, or approximately 31%, from the Class Period high. The February and May 2026 stock declines erased more than $870 million of Hub Group’s market capitalization.

Latest Developments: Further Accounting Delays

On August 11, 2026, Hub Group revealed that it will miss another deadline, delaying its second-quarter financial report for 2026. The company admitted the delay is tied directly to its ongoing failure to file its 2025 annual report. Hub Group confirmed it is still fixing errors in its past financial results spanning three years—specifically full-year 2023 and 2024, along with the first three quarters of 2025. The company now claims it will finish rewriting these past statements and release all missing reports by September 14, 2026.

Core Allegations and Defendants

The lawsuit asserts that defendants failed to disclose three critical facts: material misstatements in Q1 2023 to Q4 2024 financials due to incorrect transaction recognition; misstatements in Q1 2025 to Q3 2025 due to understated transportation costs; and the resulting misleading nature of positive statements about the company’s prospects. Key defendants include CEO Phillip Yeager, Executive Chairman David Yeager, and former CFO Kevin Beth, who served until May 28, 2026. Beth is accused of signing inaccurate Forms 10-Q and 10-K and providing flawed Sarbanes-Oxley certifications. Other named defendants include former CFO Geoffrey DeMartino, CAO Dennis Mathews, and former CAO Brent Rhodes.

How Purchased Transportation Cost Understatement Allegedly Inflated Reported Earnings

Transportation logistics companies live and die by their cost structure. For Hub Group, purchased transportation and warehousing costs represented between 74% and 76% of total revenue from 2022 through 2024, dwarfing every other expense line item combined. According to the lawsuit, Hub Group systematically understated this single largest cost, creating the false appearance of improving margins and effective cost management.

Quarter after quarter, the Company’s earnings calls attributed declining purchased transportation costs to "strong cost controls" and "network optimization." The complaint contends these characterizations were materially false because the reported cost figures themselves were wrong.

The Alleged Revenue Recognition Methodology Failures

The action further alleges Hub Group prematurely or incorrectly recognized revenue on certain transactions that were not adequately supported. Under ASC Topic 606, the Company was required to recognize revenue based on relative transit time as control transferred to customers. The lawsuit asserts that this methodology was not properly applied, resulting in materially misstated financial statements across multiple reporting periods.

• The Company allegedly understated purchased transportation costs and accounts payable by an estimated $77 million in just nine months of 2025
• Financial statements for Q1, Q2, and Q3 of 2025 were declared unreliable by the Company itself
• Annual reports for both 2023 and 2024 were subsequently identified as materially misstated
• The Company admitted that certain transactions were "prematurely or incorrectly recognized or not adequately supported"
• Internal controls over financial reporting were acknowledged as ineffective for fiscal years 2023 and 2024

Why Accurate Cost Reporting Matters in Freight Logistics Securities

When a company’s largest expense category is misstated, the distortion cascades through every profitability metric investors rely on. Operating income margins reported between 3% and 6% during the Class Period were allegedly built on a foundation of understated costs. A $77 million cost understatement in nine months represents a material percentage of Hub Group’s reported operating income, which totaled $140.3 million for all of 2024.

What the Numbers Show

The scale of the alleged accounting errors suggests a fundamental distortion of Hub Group’s profitability metrics. With purchased transportation and warehousing costs constituting 74% to 76% of total revenue from 2022 through 2024, the $77 million understatement in just nine months of 2025 represents a massive deviation relative to the company’s operating income of $140.3 million for the full year 2024. This indicates that the reported operating margins of 3% to 6% during the class period may have been significantly inflated by the failure to accurately record the company’s primary expense line item.

How to Participate

To join the class action or seek appointment as lead plaintiff, investors must file a motion with the court no later than August 28, 2026. There is no minimum loss threshold, though those with losses exceeding $100,000 are encouraged to participate. Investors may retain counsel of their choice or remain absent class members without taking action. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. After the deadline, the court will review motions and select the most adequate representative, who will then choose lead counsel.

Pomerantz LLP can be contacted via Danielle Peyton at 646-581-9980, Ext. 7980, or newaction@pomlaw.com . The Rosen Law Firm can be contacted via Phillip Kim, Esq., at 866-767-3653 or case@rosenlegal.com . Glancy Prongay Wolke & Rotter LLP is also handling the matter, reachable at 888-773-9224. Bleichmar Fonti & Auld LLP can be contacted via Adam McCall at adam@bfalaw.com or 212.789.3619. Holzer & Holzer, LLC can be contacted via Corey D. Holzer, Esq., at (888) 508-6832 or cholzer@holzerlaw.com . Kaplan Fox & Kilsheimer LLP can be contacted via Pamela A. Mayer at (646) 315-9003 or pmayer@kaplanfox.com , or Laurence D. King at (415) 772-4704 or lking@kaplanfox.com . Hagens Berman Sobol Shapiro LLP can be contacted via Reed Kathrein at 844-916-0895 or HUBG@hbsslaw.com . Bragar Eagel & Squire, P.C. can be contacted via Brandon Walker or Melissa Fortunato at (212) 355-4648 or investigations@bespc.com . Kirby McInerney LLP can be contacted via Lauren Molinaro, Esq., at 212-699-1171 or investigations@kmllp.com . Robbins LLP can be contacted via Aaron Dumas, Jr., at (800) 350-6003 or adumas@robbinsllp.com . The Gross Law Firm can be contacted at (646) 453-8903 or dg@securitiesclasslaw.com . Kahn Swick & Foti, LLC can be contacted via Lewis Kahn at 1-833-538-3653 or lewis.kahn@ksfcounsel.com . Levi & Korsinsky can be contacted via Joseph E. Levi, Esq., at (212) 363-7500 or jlevi@levikorsinsky.com . The Portnoy Law Firm can be contacted via Lesley F. Portnoy at 310-692-8883 or lesley@portnoylaw.com . Bernstein Liebhard LLP can be contacted via Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com . Robbins Geller Rudman & Dowd LLP can be contacted via Ken Dolitsky or Michael Albert at 800/851-7783 or info@rgrdlaw.com . The Law Offices of Howard G. Smith can be contacted via Howard G. Smith at (215) 638-4847 or howardsmith@howardsmithlaw.com .

Hub Group filed a late SEC notification for the quarter ended June 30, 2026, reporting balanced demand trends across its Intermodal and Transportation Solutions segments in the first half of 2026. The filing indicates that while the company experienced increased opportunities for over-the-road conversion and maintained pricing momentum through the bid season, these positive factors were counterbalanced by elevated costs for fuel, rail, and drayage services.

First Half 2026 Business Performance

In its Logistics segment, Hub Group continued to onboard significant new business within its Final Mile division. The Managed Transportation business performed well, while Brokerage volumes reflected the company's ongoing strategic focus on improving profitability. Conversely, excess capacity weighed on productivity in the Consolidation and Fulfillment areas.

The company remains focused on serving customers through this dynamic environment. Management stated it is taking actions to drive growth, improve yield, enhance efficiency, increase operating cash flows, and improve overall profitability.

Segment Highlights

What the Numbers Show

The divergence between segments highlights a mixed operational landscape. While the core Intermodal and Transportation Solutions benefited from pricing power, the margin pressure from input costs like fuel and rail suggests that revenue growth may not translate directly to proportional profit expansion without further efficiency gains. The specific mention of excess capacity in Consolidation and Fulfillment indicates a potential drag on overall asset utilization rates, contrasting with the strong performance in Managed Transportation.