The Notice was sent to you pursuant to an Order of a U.S. District Court because you or someone in your family or an investment account for which you serve as custodian may have purchased or otherwise acquired USXpress Class A common stock pursuant to and/or traceable to the public offering that commenced on June 14, 2018.

The Notice explains the class action lawsuit, the Settlement, Class Members’ legal rights in connection with the Settlement, what benefits are available, who is eligible for them, and how to get them.

The Court in charge of the Litigation is the United States District Court for the Eastern District of Tennessee, Chattanooga Division, and the case is known as Stein v. U.S. Xpress Enterprises, Inc., et al., Civil Action No. 1:19-cv-00098-TRM-CHS. The case has been assigned to the Honorable Travis R. McDonough.

A brief background of this case is provided on page 4 of the Notice, and is also summarized on the Home page of this website. We do not have any more information regarding the background of this case and litigation beyond what is provided in the Notice and posted case documents.

The Court directed that everyone who fits this description is a Class Member: all persons or entities who purchased or otherwise acquired Class A common stock of USXpress pursuant to and/or traceable to the Offering documents filed with the SEC in connection with the Offering, and who were damaged thereby, except those Persons and entities that are excluded.

Excluded from the Class are: Defendants and their immediate families, the officers and directors and affiliates of Defendants, at all relevant times, members of their immediate families and the legal representatives, heirs, successors or assigns, and any entity in which Defendants have or had a controlling interest. Also excluded from the Class are those Persons who timely and validly excluded themselves therefrom by submitting a request for exclusion in connection with the Notice of Pendency of Class Action provided in 2021, or who do so in accordance with the requirements set forth in question 11 of the Notice.

For the avoidance of doubt, the exclusions above do not extend to: (1) any investment company or pooled investment fund in which an Underwriter Defendant may have a direct or indirect interest, or as to which its affiliates may act as an advisor, but of which an Underwriter Defendant or its respective affiliates are not a majority owner or does not hold a majority beneficial interest; or (2) any employee benefit plan as to which an Underwriter Defendant or its affiliates acts as an investment advisor or otherwise may be a fiduciary; provided, however, that membership in the Class by such investment company, pooled investment fund or employee benefit plan is limited to transactions in USXpress Securities made on behalf of, or for the benefit of, persons other than persons that are excluded from the Class by definition.

In other words, the Underwriter Defendants cannot make a claim on their own behalf for their ownership share in any of the above entities.

Please Note: Receipt of the Notice does not mean that you are a Class Member or that you will be entitled to receive a payment from the Settlement. If you are a Class Member and you wish to be eligible to participate in the distribution of proceeds from the Settlement, you are required to submit the Proof of Claim that is being distributed with the Notice and the required supporting documentation as set forth therein postmarked or submitted online on or before August 16, 2023.

We are unable to advise regarding claim eligibility prior to receiving and processing a Proof of Claim submission. We cannot be more specific than the information which has been included in the Notice and cannot interpret how the Notice or Plan of Allocation may apply to a specific claim prior to processing.

Please read the Notice and Class definition carefully and decide whether or not you wish to submit a Proof of Claim. If you are still not certain of eligibility and want for us to determine eligibility, you will need to submit a Proof of Claim along with supporting documentation for your transactions.

Email is not an acceptable submission method and claims submitted via email will not be reviewed for eligibility. As indicated in the general instructions for the Claim Form, you must either submit your claim via the online form on the File A Claim tab above or you can mail your completed and signed Claim Form to:

USXpress Securities Litigation
Claims Administrator
c/o Gilardi & Co. LLC
P.O. Box 301130
Los Angeles, CA 90030-1130

If submitting via the online form, the link is found on the “File A Claim” tab above under the header “Submit Your Claim Form Online.”

Note that the online link may be disabled at any time after the filing deadline and you will only be able to submit via mail to the address above.

The Settlement provides that, in exchange for the release of the Released Claims and dismissal of the Litigation, USXpress Defendants have agreed to pay (or cause to be paid) $13 million in cash to be distributed after taxes, tax expenses, notice and claims administration expenses, and approved fees and expenses, pro rata, to Class Members who send in a valid Proof of Claim form pursuant to the Court-approved Plan of Allocation. The Plan of Allocation is described in more detail at the end of the Notice.

To be potentially eligible for a payment from the proceeds of the Settlement, you must be a member of the Class and must timely complete and return the Proof of Claim with adequate supporting documentation postmarked, if mailed, or received, if submitted online, no later than August 16, 2023.

Your share of the Net Settlement Fund will depend on several things, including the total dollar amount of claims represented by the valid Proof of Claim forms that Class Members send in, compared to the dollar amount of your claim, all as calculated under the Plan of Allocation discussed on pages 10-12 of the Notice.

The Plan of Allocation explains how the Net Settlement Fund will be allocated among purchasers and/or acquirers of USXpress common stock and how claimants’ “Recognized Claim” will be calculated. By following the instructions in the Plan of Allocation, you can calculate your Recognized Claim. However, the payment you receive will reflect your Recognized Loss Amount in relation to the Recognized Loss Amount of all persons submitting valid Claim Forms. Because the total of all Recognized Loss Amounts is expected to exceed the amount of the Net Settlement Fund, your Recognized Claim is not the amount of the payment that you will receive, but will (together with all other Class Members’ Recognized Loss Amounts) be used to calculate your (and other Authorized Claimants’) pro rata share of the Net Settlement Fund.

The Court ordered that the law firms of Robbins Geller Rudman & Dowd LLP and Levi & Korsinsky, LLP represent the Class Members. These lawyers are called Class Counsel. If you want to be represented by your own lawyer, you may hire one at your own expense.

The Court will hold a Settlement Hearing on July 10, 2023, at 3:00 p.m., to decide whether to approve the Settlement. If the Court approves the Settlement, there might be appeals. It is always uncertain whether appeals can be resolved, and if so, how long it would take to resolve them. It also takes time for all the Proofs of Claim to be processed. Please be patient.

In order to determine whether the date and time of the Settlement Hearing have changed, or whether Class Members must or may participate by phone or video, it is important that you monitor the Court’s docket or this website before making any plans to attend the Settlement Hearing. Any updates regarding the Settlement Hearing, including any changes to the date and time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to this website. Also, if the Court requires or allows Class Members to participate in the Settlement Hearing by telephone or video conference, the information for accessing the conference will be posted to this website. If you want to attend the hearing, either in person or remotely, if permitted, you should check with Class Counsel or this website beforehand to be sure that the date and/or time has not changed.

No. Class Counsel will answer questions the Court may have. But, you are welcome to come at your own expense.  If you are a Class Member and send an objection, you do not have to come to Court to talk about it. As long as you are a Class Member and mailed your complete written objection on time, the Court will consider it. You may also pay your own lawyer to attend, but it is not necessary. Class Members do not need to appear at the hearing or take any other action to indicate their approval.

If you object to the Settlement, the Plan of Allocation, and/or the fee and expense application, you may ask the Court for permission to speak at the Settlement Hearing. To do so, you must include with your objection (see question 16 in the Notice) a statement saying that it is your “Notice of Intention to Appear in the USXpress Securities Litigation.” Persons who intend to object to the Settlement, the Plan of Allocation, and/or any attorneys’ fees and expenses to be awarded to Plaintiffs’ Counsel or Plaintiffs and desire to present evidence at the Settlement Hearing must include in their written objections the identity of any witnesses they may call to testify and exhibits they intend to introduce into evidence at the Settlement Hearing. Your notice of intention to appear must be received no later than June 19, 2023, and addressed to the Clerk of Court, Class Counsel, and Defendants’ Counsel, at the addresses listed in question 16 of the Notice. You cannot speak at the hearing if you exclude yourself from the Class.

We do not hold stock records here. Gilardi & Company, LLC is a third-party administrator appointed by the Court to notify potential claimants. We are provided with names and addresses of potential claimants in order to notify individuals of settlements but do not have access for your investment records. We recommend you contact the institution where you held your shares and request proof or supporting documentation for your claim.

We cannot advise you as to whether or not you should choose to submit a claim, objection, or exclusion. Unless you timely and validly exclude yourself, you are staying in the Class, and that means that you cannot sue, continue to sue, or be part of any other lawsuit against Defendants or any other Released Defendant Parties in this case. It also means that all of the Court’s orders will apply to you and legally bind you, and you will release your claims in this case against Defendants and the other Released Persons. The terms of the release are included in the Proof of Claim and Release and the Settlement Agreement.

If you do not submit a Proof of Claim and Release, you will not receive any money from this Settlement but will still be part of the Class and subject to applicable releases.

If you exclude yourself, you cannot object to the Settlement because it does not affect you.

Objecting is simply telling the Court that you do not like something about the Settlement. You can object only if you stay in the Class.

Objecting is simply telling the Court you do not like something about the Settlement or some portion thereof. You can object only if you stay in the Class. You may submit a Claim Form even if you object.

Requesting exclusion is telling the Court you do not want to be part of the Class or the Settlement. If you exclude yourself, you cannot object to the Settlement because it no longer concerns you. Nor can you submit a Claim Form. If you stay in the Class and object, but your objection is overruled, you will not be allowed a second opportunity to exclude yourself.

To exclude yourself from the Class and the Settlement, you must send a letter by First-Class Mail stating that you “request exclusion from the Class in the USXpress Securities Litigation.” Your letter must include your purchases or other acquisitions of USXpress Class A common stock pursuant and/or traceable to the Offering, including the dates and number of shares of USXpress Class A common stock purchased or otherwise acquired, and price paid for each such purchase or other acquisition. In addition, you must include your name, address, telephone number, and your signature. You must submit your exclusion request so that it is postmarked no later than June 19, 2023 to:

USXpress Securities Litigation
Claims Administrator
c/o Gilardi & Co. LLC
EXCLUSIONS
P.O. Box 5100
Larkspur, CA 94977-5100

If you ask to be excluded, you will not get any payment from the Settlement, and you cannot object to the Settlement. You will not be legally bound by anything that happens in this lawsuit, and you may be able to sue the Defendants and the other Released Persons about the Released Claims in the future, if such claims are not time-barred.

If you are a Class Member, you can comment on or object to the proposed Settlement, the proposed Plan of Allocation and/or Plaintiffs’ Counsel’s fee and expense application. You can write to the Court setting out your comment or objection. The Court will consider your views. To comment or object, you must send a signed letter saying that you wish to comment on or object to the proposed Settlement in the USXpress Securities Litigation. Include your name, address, telephone number, and your signature, identify the date(s), price(s), and number of shares purchased, acquired, or sold of USXpress Class A common stock pursuant and/or traceable to the Offering, and state with specificity your comments or the reasons why you object to the proposed Settlement, Plan of Allocation and/or fee and expense application, including any legal and evidentiary support for such objection. Any objection must state whether it applies only to the objector, to a specific subset of the Class, or to the entire Class. In addition, the objector must identify all class action settlements to which the objector or his, her, or its counsel have previously objected. You must also include copies of documents demonstrating your purchases, other acquisitions, and/or sales of USXpress Class A common stock pursuant and/or traceable to the Offering. Your comments or objection must be filed with the Court and mailed or delivered to each of the addresses listed on page 9 of the Notice such that it is received no later than June 19, 2023.

Separate Claim Forms should be submitted for each separate legal entity (e.g., a claim from joint owners should not include the transactions for an individual account, and an individual should not combine his or her IRA transactions with transactions made solely in the individual’s name).

However, a single Claim Form should be submitted on behalf of one legal entity that includes all transactions made by that entity, no matter how many separate accounts that entity has (e.g., an individual with multiple brokerage accounts should include all transactions made in all accounts on one Claim Form).

When filing on behalf of a deceased beneficial owner or their estate, you can submit a claim in the name of the individual, or, if an estate exists, you can submit on behalf of the estate. Note that any settlement proceeds will be made payable to the estate if that is how you submit that claim. The same rule applies for IRA's and other account types.

The claim submission should include a copy of the death certificate as well as proof of authority to file. As you are submitting a Claim Form as a representative on behalf of someone else (e.g., as an executor, administrator, trustee or other representative), you must document your authority to file on their (or their estate’s) behalf. Proof of authority can include a copy of the Last Will and Testament, Letters Testamentary, evidence of probate, proof of authority as executor or beneficiary and/or any other testamentary provisions of the deceased person. Do not send originals as any documents submitted with your claim will not be returned.

Depending on whether you submit on behalf of the individual on behalf of the estate, please provide the appropriate TIN or SSN. Then sign the Claim Form.

The claim must be submitted for the benefit of the actual beneficial owner/purchaser of the shares or their estate. Do not submit the claim in the name of the deceased person’s family or other heirs. We must issue the check to the actual beneficial owner/purchaser of the shares. We cannot issue any applicable check in the name of the deceased person’s family, beneficiaries or other heirs.

Sufficient documentation will provide all of the required transaction information. Typically, the required detail is transaction date, number of shares and total transaction price. Suggested forms of documentation are photocopies of stockbrokers' confirmation slips or stockbrokers' monthly statements reflecting your opening and closing balances for the months specified on the Claim Form, and in which transactions during the relevant period occurred.

Stock certificates are not considered a sufficient form of documentation as they do not provide the necessary trade date and transaction price information. We are also unable to accept handwritten documents, self-prepared tax forms or spreadsheets, or statements that are illegible due to document quality.

The Claims Administrator does not have the authority to grant extensions beyond the deadline. You are welcome to submit a Proof of Claim at this time understanding that it will be considered late. If you desire, you may also include a brief letter explaining why your claim is late.

We will process all late claims received, and as much as possible, include that information with our recommendations to Counsel. We generally recommend that late claims which are otherwise valid and eligible be considered for distribution, but it will be up to the Court and/or Counsel to determine whether or not late claims will receive consideration in this matter.

The Court will hold a Settlement Hearing on July 10, 2023, at 3:00 p.m., to decide whether to approve the Settlement. If the Court approves the Settlement, there might be appeals. It is always uncertain whether appeals can be resolved, and if so, how long it would take to resolve them. It also takes time for all the Proofs of Claim to be processed. Please be patient.

Processing time on our cases can take an average of 9 to 12 months from the August 16, 2023 filing deadline. Once processing is complete, we must then wait for authorization from Counsel and/or the Court before we can distribute the funds which can take several additional months.

Please understand that this is an estimated timeframe for processing based on our experience which does not guarantee that all case processing will be completed within twelve months. Processing time varies from case to case and some cases may take more or less based on the specifics of that case settlement.

If your claim has been received and we have any questions or need additional information or documentation to assist in the processing of your claim, we will contact you by using one or more of the contact methods (phone, e-mail, mail) which you listed on your claim form submission.

We will not have the final claim payout amount available until we have processed all of the claims, calculated the total loss of claims filed and received approval from the Court and/or Counsel.

We appreciate your patience as accurate claims processing takes time.

If you do nothing, you will not receive any money from this Settlement. In addition, unless you exclude yourself, you will not be able to start a lawsuit, continue with a lawsuit, or be part of any other lawsuit against Defendants and their Related Parties about the Released Claims in this case.