Kevin Beth Allegedly Oversaw Hub Group's $77 Million Cost Understatement and Signed SOX Certifications Attesting to Financial Accuracy Before His Departure in May 2026
NEW YORK, July 23, 2026 /PRNewswire/ -- SueWallSt notifies investors in Hub Group, Inc. (NASDAQ: HUBG) that Kevin Beth, the Company's former Chief Financial Officer, is named as a defendant in a securities class action covering purchases between April 28, 2023, and May 11, 2026. Find out if you may qualify to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.
Hub Group shares fell a cumulative $14.71 per share, or 28.6%, from a Class Period high of $51.33 to $36.62 following two corrective disclosures that revealed materially misstated financials spanning three years. The last day to move for lead plaintiff is August 28, 2026.
Kevin Beth's Tenure and Financial Oversight Responsibilities
Beth served as Hub Group's CFO, Executive Vice President, and Treasurer from January 1, 2024, until the announcement of his departure on May 28, 2026. Before becoming CFO, he served as the Company's Chief Accounting Officer and EVP, giving him direct involvement in Hub Group's financial reporting processes across a significant portion of the Class Period.
As CFO, Beth was responsible for the accuracy of Hub Group's financial disclosures, signed quarterly and annual SEC filings, and provided Sarbanes-Oxley certifications attesting that the Company's financial statements "fairly present in all material respects the financial condition, results of operations and cash flows" of Hub Group.
What Beth Allegedly Oversaw
The complaint identifies specific actions and statements attributed to Beth during his tenure as CFO:
- Signed Hub Group's Forms 10-Q and 10-K filed with the SEC from Q1 2023 through Q3 2025
- Provided SOX certifications for each filing period affirming that disclosure controls were effective and financial statements were materially accurate
- Stated on the Q1 2025 earnings call that purchased transportation costs decreased $82 million "due to strong cost controls as well as lower rail and warehouse expenses," when costs were allegedly understated by tens of millions
- Repeated similar cost reduction claims on Q2 and Q3 2025 earnings calls, each time attributing declines to operational efficiency rather than accounting errors
- Departed the Company on May 28, 2026, just sixteen days after the second corrective disclosure on May 12, 2026 rendered 2023 and 2024 annual reports unreliable
Beth's SOX Certifications and Personal Liability
Under Sections 302 and 906 of the Sarbanes-Oxley Act, the certifying officer bears personal responsibility for the accuracy of financial statements filed with the SEC. The lawsuit contends that Beth certified financial statements he knew, or should have known, contained material misstatements regarding purchased transportation costs and accounts payable.
The action further asserts that Beth, as a controlling person under Section 20(a) of the Exchange Act, had the power to influence the content of Hub Group's SEC filings and public statements, and failed to ensure their accuracy.
"Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. When a company later admits those disclosures were materially misstated across multiple years, the certifying officers face serious questions about what they knew and when." -- Joseph E. Levi, Esq.
Submit your information here or call (888) SueWallSt.
LEAD PLAINTIFF DEADLINE: August 28, 2026
WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Frequently Asked Questions About the HUBG Lawsuit
Q: Who are the defendants named in the HUBG lawsuit? A: The complaint names Hub Group, Inc. and individual defendants including CEO Phillip Yeager, Executive Chairman David Yeager, former CFO Kevin Beth, former CFO Geoffrey DeMartino, CAO Dennis Mathews, and former CAO Brent Rhodes, all of whom signed SEC filings or made public statements during the Class Period.
Q: What specific misstatements does the HUBG lawsuit allege? A: The complaint alleges Hub Group materially misstated its financial results by understating purchased transportation costs and accounts payable, prematurely recognizing revenue, and falsely certifying that internal controls were effective, across filings from 2023 through the first three quarters of 2025.
Q: What if I already sold my HUBG shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact Levi & Korsinsky before August 28, 2026 to evaluate.
Q: What do HUBG investors need to do right now? A: Investors may gather brokerage records showing purchase dates, share quantities, and prices paid. Contact SueWallSt, a brand of Levi & Korsinsky LLP, for a no-cost, no-obligation case evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as an absent class member.
Q: Has Levi & Korsinsky handled similar cases before? A: Yes, including securities class actions involving revenue inflation, earnings guidance fraud, financial restatements, and executive misconduct across numerous industries.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (888) SueWallSt
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
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SOURCE SueWallSt.com
