Freight broker Landstar System announced it has delayed reporting first-quarter results as it further investigates suspected supply chain fraud that was uncovered during the last week of March. It said the event is not expected to exceed $15 million of net income before accounting for professional fees and potential insurance recoveries.
On April 2, the Jacksonville, Florida-based company cut its earnings-per-share guidance for the quarter to a range of 90 to 95 cents from $1.05 to $1.25, citing...
https://www.freightwaves.com/news/landstar-quantifies-suspected-fraud-event-delays-q1-report