In business, losing a bidding war is usually bad news. Old Dominion Freight Line (ODFL) lost one in 2023, and that defeat quietly became one of the smartest financial decisions in the company’s history. The rival on the other side of that story was Yellow Corp, a nearly 100-year-old carrier that ...
A court ruling that likely wiped out any recovery for shareholders of the bankrupt trucker Yellow Corp. contained an error that may require a key decision against the company to be reversed, a judge said on Monday.
Bankrupt trucker Yellow Corp. and its hedge fund owners lost a key court ruling over $6.5 billion in debt that pension funds claim the defunct company owes them, likely wiping out most recovery for shareholders.