Comment / XPO’s $35m blast from the past – legacy liabilities roll on

ID 244837000 © Rinchumrus2528 | Dreamstime.com

Sometimes the cargo that weighs heaviest isn’t even on the truck.

For $15bn-market-cap XPO, one of North America’s most prominent LTL players, October delivered a $35 million reminder that legacy legal baggage can show up decades after the shipment has left the dock.

XPO is preparing to record a $35 million charge* in the third quarter (Q3 trading update due on 30 October), all thanks to a legal tangle dating back to the Reagan era.

(*Full disclosure here, 8-K SEC filing lodged yesterday, ...