Court Gives Preliminary Nod to Ryder Class Action Settlement

Ryder System Inc. and investors who sued the transportation and logistics company persuaded a federal judge to preliminarily approve a proposed $45 million class action settlement, bringing the litigation closer to an end.

Investors, who filed a complaint in the US District Court for the Southern District of Florida, allege Ryder violated the Securities Exchange Act by artificially inflating its stock price through misleading statements to investors about the value of its vehicles.

• The proposal preliminarily approved Tuesday by Judge Aileen M. Cannon would allow a settlement class of people or entities who acquired Ryder stock from July 23, 2015, ...