8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 26, 2002

FORWARD AIR CORPORATION

(Exact name of registrant as specified in its charter)

Tennessee	000-22490	62-1120025
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

430 Airport Road Greeneville, Tennessee	37745
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (423) 636-7000

Not Applicable

(Former name or former address, if changed since last report)

TABLE OF CONTENTS

Press Release

Item 5. Other Events

On November 25, 2002, Forward Air Corporation (the “Company”) issued a press release announcing the settlement of the Company’s unfair competition and trademark infringement litigation against US Xpress Enterprises, Inc. pending in the Federal District Court in Greeneville, Tennessee. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 7. Financial Statements, Pro Forma Information and Exhibits.

(a)	Not Applicable.
(b)	Not Applicable.
(c)	Exhibits:
	(99.1)	Press Release issued November 25, 2002.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FORWARD AIR CORPORATION
Date: November 26, 2002	By:	/s/ Andrew C. Clarke
		Andrew C. Clarke Chief Financial Officer & Senior Vice President

EXHIBIT INDEX

No.	Exhibit
99.1	Press Release issued November 25, 2002.

EX-99.1 3 g79596exv99w1.txt PRESS RELEASE EXHIBIT 99.1 [FORWARD AIR CORPORATION LOGO] NEWS RELEASE Contact: Andrew C. Clarke Chief Financial Officer and Senior Vice President (423) 636-7000 FORWARD AIR SETTLES UNFAIR COMPETITION AND TRADEMARK INFRINGEMENT CLAIMS AGAINST US XPRESS GREENEVILLE, Tenn. (November 25, 2002) - Forward Air Corporation (Nasdaq/NM:FWRD) announced today that the parties had agreed to settle Forward Air's unfair competition and trademark infringement litigation against US Xpress Enterprises, Inc. (Nasdaq/NM:XPRSA). The settled litigation involves a multi-claim suit filed by Forward Air in the Federal District Court in Greeneville, Tennessee, and arises out of the December 2000 acquisition by Forward Air of assets of the former Dedicated Transportation Services, Inc. As a linehaul transportation provider to Dedicated, US Xpress had made a competing bid to acquire the same assets. When it was outbid by Forward Air, US Xpress attempted to collect past due linehaul charges by stopping numerous trucks hauling DTSI freight resulting in a nationwide disruption of service. Later, US Xpress elected to initiate a competing airport-to-airport expedited service using "Dedicated" as part of its trade name. In the settlement, US Xpress agreed to pay $1.3 million in cash and terminate use of the "Dedicated" name to settle all matters in controversy. The Company expects to record a one-time gain of approximately $1.0 million in the fourth quarter of 2002, which reflects the settlement amount net of legal expenses. In commenting on the settlement, Bruce Campbell stated, "While we remain convinced that a trial of our claims would have been successful, we believe that the settlement with US Xpress represents a fair compromise of our differences." Forward Air Corporation is a high-service-level contractor to the air cargo industry providing time-definite service in the United States and Canada. This press release and statements made by the Company in reports to its shareholders and public filings, as well as oral public statements by the Company's representatives, may contain certain forward-looking information that is subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Without limitation, factors that might cause such a difference include economic factors such as recessions, inflation, higher interest rates and downturns in customer business cycles, the Company's inability to maintain its historical growth rate because of a decreased volume of freight moving through the Company's network, competition, surplus inventories, loss of a major customer, the ability of the Company's information systems to handle increased volume of freight moving through its network, and the availability and compensation of qualified independent owner-operators to serve the Company's transportation needs. The Company disclaims any intent or obligations to update these forward-looking statements. -END- -----END PRIVACY-ENHANCED MESSAGE-----

EX-99.1

                                                                   EXHIBIT 99.1


                         [FORWARD AIR CORPORATION LOGO]


                                                                   NEWS RELEASE
Contact: Andrew C. Clarke
         Chief Financial Officer
         and Senior Vice President
         (423) 636-7000

             FORWARD AIR SETTLES UNFAIR COMPETITION AND TRADEMARK
                     INFRINGEMENT CLAIMS AGAINST US XPRESS

GREENEVILLE, Tenn. (November 25, 2002) - Forward Air Corporation
(Nasdaq/NM:FWRD) announced today that the parties had agreed to settle Forward
Air's unfair competition and trademark infringement litigation against US
Xpress Enterprises, Inc. (Nasdaq/NM:XPRSA).

The settled litigation involves a multi-claim suit filed by Forward Air in the
Federal District Court in Greeneville, Tennessee, and arises out of the
December 2000 acquisition by Forward Air of assets of the former Dedicated
Transportation Services, Inc. As a linehaul transportation provider to
Dedicated, US Xpress had made a competing bid to acquire the same assets. When
it was outbid by Forward Air, US Xpress attempted to collect past due linehaul
charges by stopping numerous trucks hauling DTSI freight resulting in a
nationwide disruption of service. Later, US Xpress elected to initiate a
competing airport-to-airport expedited service using "Dedicated" as part of its
trade name.

In the settlement, US Xpress agreed to pay $1.3 million in cash and terminate
use of the "Dedicated" name to settle all matters in controversy. The Company
expects to record a one-time gain of approximately $1.0 million in the fourth
quarter of 2002, which reflects the settlement amount net of legal expenses. In
commenting on the settlement, Bruce Campbell stated, "While we remain convinced
that a trial of our claims would have been successful, we believe that the
settlement with US Xpress represents a fair compromise of our differences."

Forward Air Corporation is a high-service-level contractor to the air cargo
industry providing time-definite service in the United States and Canada.

This press release and statements made by the Company in reports to its
shareholders and public filings, as well as oral public statements by the
Company's representatives, may contain certain forward-looking information that
is subject to certain risks and uncertainties that could cause actual results
to differ materially from those projected. Without limitation, factors that
might cause such a difference include economic factors such as recessions,
inflation, higher interest rates and downturns in customer business cycles, the
Company's inability to maintain its historical growth rate because of a
decreased volume of freight moving through the Company's network, competition,
surplus inventories, loss of a major customer, the ability of the Company's
information systems to handle increased volume of freight moving through its
network, and the availability and compensation of qualified independent
owner-operators to serve the Company's transportation needs. The Company
disclaims any intent or obligations to update these forward-looking statements.

                                     -END-