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Stock impact report

Stolen load of cellphones involving RXO may be another key broker liability case [Yahoo! Finance]

C.H. Robinson Worldwide, Inc. (CHRW) 
Last c.h. robinson worldwide, inc. earnings: 4/28 04:15 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.chrobinson.com
Company Research Source: Yahoo! Finance
A case involving giant 3PL RXO has the potential to add another decision to the body of law regarding broker liability. RXO (NYSE: RXO) brokered a shipment of cellphones for phone reseller PCS Wireless. The shipment was booked a few months before RXO was spun off as a standalone 3PL by XPO , and RXO is identified in the initial lawsuit as “f/k/a” – formerly known as – XPO (NYSE: XPO) The shipment totaled about 54,000 phones with a value of approximately $11.5 million. They were to move from Texas to South Florida. RXO hired carrier Wizard Equipment Corp. to move the load, but it was stolen near Tampa, Florida. PCS' insurer paid out $5 million for the theft; the suit in the Western District of North Carolina is over the remaining $6.5 million th Read more
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