The law firm of Kirby McInerney LLP is investigating potential claims against Forward Air Corporation (“Forward Air” or the “Company”) (NASDAQ: FWRD). The investigation concerns whether the Company and/or members of its senior management may have violated federal securities laws or engaged in other unlawful business practices.

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What Happened?

On May 7, 2026, Forward Air reported its first quarter 2026 financial results and provided a customer and strategic alternatives update. Among other things, the Company disclosed operating revenues of $582.0 million, compared to $613.3 million in the prior-year period, representing a decrease of 5.1%. The Company also disclosed a net loss of $40.2 million and a net loss attributable to Forward Air of $34.3 million, or $1.09 per diluted share.

Forward Air also disclosed that it was “currently in active discussions with one of its largest customers” regarding “the transition of a significant portion of their business with the Company to other providers.” Forward Air further disclosed that the customer represented approximately $250 million of the Company’s revenue for the fiscal year ended December 31, 2025, and was not a customer of Forward Air’s Less Than Truckload or Intermodal businesses.

Forward Air also provided an update on its strategic alternatives process. The Company disclosed that its review included “extensive negotiations and discussions with multiple parties,” but that “due to a variety of factors, including the developments in Forward Air’s relationship with the Customer, no actionable proposals for a sale of the Company were ultimately received.”

On this news, the price of Forward Air shares declined by $7.46 per share, or approximately 43%, from $17.33 per share on May 7, 2026 to close at $9.87 on May 8, 2026.

What Should I Do?

At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws.

If you purchased or otherwise acquired Forward Air securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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