| Company: | UTi Worldwide Inc |
| Ticker Symbol: | UTIW |
| Class Period: | Dec-5-13 to Feb-25-14 |
| Date Filed: | Apr-3-14 |
| Lead Plaintiff Deadline: | Jun-2-14 |
| Court: | Central District of California |
| Allegations: | |
UTi provides supply chain services and solutions including airfreight forwarding, ocean freight forwarding, customs brokerage, contract logistics and related services worldwide.
The Complaint alleges that UTi was experiencing a severe liquidity crunch during the foregoing period and was rapidly depleting its lines of credit as a result of problems with the rollout of a new freight-forwarding operating system. The undisclosed liquidity problems were so severe that the Company was at risk of breaching its financing covenants and, to provide UTi with emergency financing, the Company was forced to engage in a heavily dilutive offering of convertible notes and preferred shares totaling over $500 million.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
