CSX Corporation (NASDAQ: CSX)

This investigation is for anyone who acquired securities in CSX Corporation (NASDAQ: CSX) prior to October 17, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that it had in place sufficient internal controls when the Company lacks such controls.

On August 5, 2024, CSX announced it had “identified misstatements between the balance sheet and operating expense in previously issued financial statements” after the Company “completed a review of the accounting treatment for engineering scrap and certain engineering support labor.” Then on October 17, 2024, CSX revealed it had received a subpoena from the Enforcement Division of the U.S. Securities and Exchange Commission (“SEC”) requesting information relating to, among other things, the accounting restatement disclosed in the Company’s August 5, 2024 10-Q. The Company further revealed it “has also been responding to information requests by the SEC related to certain of the Company’s non-financial performance metrics.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in CSX Corporation (NASDAQ: CSX) prior to October 17, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.