USA Truck And Knight Transportation Reach Settlement Of Litigation

      USA Truck And Knight Transportation Reach Settlement Of Litigation

PR Newswire

VAN BUREN, Ark., Feb. 4, 2014

VAN BUREN, Ark., Feb. 4, 2014 /PRNewswire/ -- USA Truck, Inc. (NASDAQ: USAK),
a leading truckload transportation and logistics solutions provider, has
entered into a settlement agreement with Knight Transportation, Inc.(NYSE:
KNX) that dismisses all claims between the two parties arising from the
litigation it filed against Knight Transportation on October 10, 2013.

(Logo: http://photos.prnewswire.com/prnh/20110114/DA30069LOGO)

In connection with the settlement, USA Truck and Knight Transportation have
entered into a standstill agreement and a voting agreement effective through
September 30, 2014. The standstill agreement contains customary terms,
including that, through September 30, 2014, Knight Transportation will not
acquire any securities or assets of USA Truck, propose any tender or exchange
offer to acquire USA Truck securities or any consent solicitation, or seek
representation on the Board of Directors of USA Truck. In addition, pursuant
to the voting agreement, Knight Transportation has agreed not to vote the USA
Truck shares it beneficially owns at the Company's 2014 shareholder
meeting.

USA Truck issued the following statement regarding the settlement:

We are pleased that the parties have reached a settlement. USA Truck's
management team and employees have been focused on executing plans to restore
the Company's profitability and unlock its earnings leverage potential through
improved operational excellence, profitable revenue growth and cost
effectiveness. Nevertheless, by eliminating any of the distractions that have
been created by this litigation, the settlement is a positive outcome for USA
Truck's employees, customers and shareholders.

In conjunction with the settlement, USA Truck and Knight Transportationwill
filea joint stipulation to dismiss the lawsuit in its entirety with
prejudice.

Safe Harbor Statement
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements generally may be
identified by their use of terms or phrases such as "expects," "estimates,"
"anticipates," "projects," "believes," "plans," "goals," "intends," "may,"
"will," "should," "could," "potential," "continue," "future" and terms or
phrases of similar substance. Forward-looking statements are based upon the
current beliefs and expectations of our management and are inherently subject
to risks and uncertainties, some of which cannot be predicted or quantified,
which could cause future events and actual results to differ materially from
those set forth in, contemplated by, or underlying the forward-looking
statements, including risks and uncertainties associated with the unsolicited
proposal from Knight Transportation, Inc. to acquire all of the Company's
shares and the settlement of related litigation, the impact of the pendency of
that proposal or the settlement of litigation on the Company's relationships
with its employees, customers and vendors, and the Company's ability to
successfully execute on its strategic road map and meet its long-term
financial goals. Accordingly, actual results may differ from those set forth
in the forward-looking statements. Readers should review and consider the
factors that may affect future results and other disclosures by the Company in
its press releases, Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission. We disclaim any obligation to update or
revise any forward-looking statements to reflect actual results or changes in
the factors affecting the forward-looking information. In light of these
risks and uncertainties, the forward-looking events and circumstances
discussed in this press release might not occur.

All forward-looking statements attributable to us, or persons acting on our
behalf, are expressly qualified in their entirety by this cautionary
statement.

About USA Truck
USA Truck is a transportation and logistics provider headquartered in Van
Buren, Arkansas, with terminals, offices and staging facilities located
throughout the United States. We transport commodities throughout the
continental U.S. and into and out of portions of Canada. We also transport
general commodities into and out of Mexico by allowing through-trailer service
from our terminal in Laredo, Texas. Our Strategic Capacity Solutions and
Intermodal service offerings provide customized transportation solutions using
the latest technological tools available and multiple modes of transportation.

SOURCE USA Truck, Inc.

Contact: Company Contact: Cliff Beckham, Executive Vice President and Chief
Financial Officer, (479) 471-2672, Cliff.Beckham@usa-truck.com, Investor
Relations Contact: Harriet Fried/Jody Burfening, LHA, (212) 838-3777,
hfried@lhai.com
 
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