Pomerantz Law Firm Investigates FreightCar America Following Backlog Cancellation and Guidance Cut
Pomerantz LLP has launched an investigation into FreightCar America, Inc. (NASDAQ: RAIL) regarding potential securities fraud or unlawful business practices. The probe follows the company's October 19, 2026, disclosure of unfavorable preliminary third-quarter results and a significant reduction in its reported backlog. The company removed 1,285 railcars from its backlog—a major multi-year tank car retrofit order—after anticipating a customer default on contractual obligations. Consequently, FreightCar reduced its full-year 2026 adjusted EBITDA guidance by more than 50%. Following these disclosures, the company's stock price plummeted 31.28% to close at $4.02 per share.
Tickers: $RAIL
Topics: backlog cancellation class action lawsuit earnings guidance reduction securities fraud investigation
Read the full article at PR Newswire
Part of the story Pomerantz Law Firm Investigates EyePoint, Inc. Following Clinical Trial Failures (9 articles)