Celadon Group Inc. sold its North American container-on-flatcar intermodal operations to Bison Transport of Winnipeg, Manitoba, according to an April 26 press release.

Celadon Group Inc. has agreed to pay $42.2 million to settle a federal investigation into allegations that a prior management team and a subsidiary company filed false and misleading statements to investors regarding tractors and trailers leased to owner-operators.

Celadon Group continued its efforts to remake the company, updating its CelaTrac freight-tracking software and redesigning its corporate website.

Celadon Group took another step to reshape its management ranks with the hiring of Thom Albrecht as executive vice president and chief financial and strategy officer, promoting Chase Welsh to executive vice president of risk management and general counsel and adding Kathleen Ross, an experienced commercial banker, to serve as an independent member of its board of directors.

Celadon Group Inc. offered new information into its financial situation while confirming it is under a Securities and Exchange Commission investigation into the value of used trucks donated to a joint venture company.