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Swift Makes Its Case to Investors, Law Firms Pile On

November 9, 2004

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Swift Transportation Co. Inc. will try to raise rates to help improve margins, the trucking company's vice corporate controller Steve Attwood said Tuesday on a Web cast of the Robert W. Baird Industrial Conference in Chicago.

"We haven't fully taken advantage of an opportunity that was there," Attwood said, adding that many of the company's contracts are coming due in the next couple of quarters. Attwood said the company expects future growth to come internally -- through better execution and by securing better rate agreements with shippers, which include major retailers.
Attwood’s remarks to the investment community came in the context of a U.S. Securities and Exchange Commission investigation of stock trades at the company and a class-action lawsuit filed Friday by a New York law firm on behalf of certain shareholders. A Connecticut firm announced a similar suit Monday, and yesterday a Pennsylvania firm piled on.

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