News / Rising haulage rates and declining service levels prompt US forwarder itchiness

Forward Air has had a bumpy ride in recent months. In December, the trucking firm was the victim of a ransomware cyber-attack that hit its bottom line to the tune of $5.7m.

Management has also received heavy criticism from former executives who had acquired a 6.3% stake in the firm and argued that Forward’s board had given poor operational oversight, were pursuing the wrong strategy and failed to optimise the balance sheet.

Their campaign culminated in an open letter to shareholders asking ...