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Hub Group Faces Nasdaq Delisting Notice Over Delayed Financial Reports

Hub Group anticipates receiving a delisting notification from Nasdaq after missing a Monday deadline to submit financial reports, stemming from an accounting error discovered earlier this year. The company will request a hearing to maintain its listing, with the automatic stay protecting shares from delisting for 15 calendar days. Hub Group plans to seek additional filing extensions and expects shares to continue trading during the hearing process, which can take approximately 30 to 45 days to commence. The transportation and logistics company identified a $77 million understatement in purchased transportation expenses during the first three quarters of 2025. Additional accounting irregularities discovered in 2023 and 2024 will require restatement of those periods. Hub Group expects to complete restating results and file outstanding periods during the fourth quarter. Dave Yeager has resumed the chairman and CEO role, replacing Phil Yeager, who continues as president and vice chairman. Patrick O'Donnell, who joined Hub Group as a special advisor last month and brings 20 years of finance and accounting experience, will assume the CFO position upon completion of the restatement process.