Freight broker Landstar System expects to incur $3.4 million in damages from an accident involving its subsidiary, Landstar Ranger. A Texas jury found Landstar Ranger acted as a broker, not a motor carrier, attributing 15% of $22.8 million in total damages to Landstar. Landstar has already included an “immaterial accrual” for the accident on its balance sheet.

All parties are expected to file post-trial motions, with a potential appeals process looming. The decision is unlikely to impact Landstar’s $12 million “no claims bonus” program with third-party insurers. Landstar plans to sell its Mexican subsidiary, Landstar Metro, incurring a noncash impairment charge of $13 million to $17 million in the third quarter.

Landstar will also see a $9 million noncash impairment charge as it unwinds its Blue TMS platform, and is writing down a $5 million minority stake in Cavnue. Shares of LSTR were up 0.6% at 12:04 p.m. EDT on Wednesday. Landstar plans to conduct TL brokerage services exclusively through its Landstar TMS.

Read more at Yahoo Finance: Landstar says $3.4M jury verdict, other charges to weigh on Q3