GlobeNewswire Inc | Jul 17, 2020 11:00AM EDT

July 17, 2020

NEW YORK, July 17, 2020 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Ryder System, Inc. ("Ryder" or "the Company") (NYSE: R) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Ryder securities between July 23, 2015 and February 13, 2020, inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firms site: www.bgandg.com/r.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) failed to disclose that Ryders financial results were inflated as a result of the Companys practice of overstating the residual values of the vehicles in its fleet; (2) there was no reasonable basis to believe that Ryder would sell its used vehicles for the amounts that it had assigned to them; (3) Ryders residual values for its fleet of vehicles exceeded the expected future values that would be realized upon the sale of those vehicles by such a degree that the Company ultimately took a $357 million depreciation charge in 2019 related to Ryders reduction of its residual values to align them with the amounts for which they could realistically be sold; and (4) as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firms site: www.bgandg.com/r or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ryder you have until July 20, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firms expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com