The legal action centers on a series of financial discrepancies identified at the Oak Brook, Illinois-based logistics provider. On February 5, 2026, the company announced that financial statements for the first three quarters of 2025 were unreliable due to an error involving the understatement of transportation costs and accounts payable. This adjustment, estimated at $77 million, triggered an 18% slide in the company's stock price, dropping from $51.33 to $41.96 per share.

The situation deepened on May 12, 2026, when Hub Group revealed that transactions from 2023 and 2024 were incorrectly recognized or lacked proper support. The company acknowledged failures in its internal controls and disclosure procedures, leading to further misstatements in its annual reports. Shares subsequently fell another 13%, closing at $36.62. Berger Montague is now representing investors seeking to address these losses, with attorneys Andrew Abramowitz and Caitlin Adorni managing the inquiries.