Freight broker stocks fall after Supreme Court ruling; larger 3PLs may gain share

Freight brokerage stocks fell May 14, 2026, after the Supreme Court’s unanimous Montgomery vs. Caribe II decision allowed brokers to be named as defendants when carriers they hire are involved in accidents that lead to lawsuits. C.H. Robinson (NASDAQ: CHRW) fell 1.92% to $160.12 by about 1:30 p.m. EDT, RXO (NYSE: RXO) dropped 8.83% to $18.07, and Landstar (NASDAQ: LSTR) declined 1.72% to $171.98. The S&P 500 was up about 0.7%, while truckload carriers rose, including Knight-Swift (NYSE: KNX), J.B. Hunt (NASDAQ: JBHT) and Schneider National (NYSE: SNDR). RXO said the ruling could accelerate consolidation by favoring scaled brokers with stronger vetting and financial capacity. C.H. Robinson said it was disappointed but cited justices’ comments that brokers acting reasonably with reputable carriers should be able to defend against tort claims. Deutsche Bank said 20% of the trucking industry could face “grave financial consequences,” while larger brokers may gain market share.