Hub Group, Inc. (HUBG) Investigation

In the past, Hub Group has assured investors that its financial statements were prepared in conformity with generally accepted accounting principles (“GAAP”) and fairly presented its financial condition. The company also assured investors that its disclosure controls and procedures were sufficient.

These assurances came into question after the market closed on February 5, 2026. That day, Hub Group filed a report with the SEC warning investors not to rely on certain of its quarterly reports because the company understated “purchased transportation costs and accounts payable in the first nine months of 2025.”

The specific quarterly reports which the company warned about include the periods ended March 31, June 30 and September 30, 2025.

Hub Group also revealed that it “expects to conclude that it did not maintain effective disclosure controls and procedures and internal control over financial reporting for the year ended December 31, 2025[,]” and that it “is continuing to assess the potential impact to its consolidated financial statements for the years ended December 31, 2024 and 2023.”

The market’s reaction was swift. During trading the next day, the price of Hub Group shares tanked as much as $14.16 (-27%), wiping out over $800 million of market capitalization in a single day.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the HUBG investigation about?

We are investigating whether, having repeatedly assured investors about the propriety of it is financials and controls, Hub Group may have intentionally understated expenses and whether fiscal years 2023 and 2024 may also be impacted.

WHAT SHOULD I DO?

I worked at HUBG. What should I do?

If you were an employee of HUBG, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in HUBG, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any HUBG investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.