Cases
Roadrunner Transportation Systems, Inc. (NYSE: RRTS)
Securities Class Action
Overview
Overview
- Date:
- 1/31/2017
- Company Name:
- Roadrunner Transportation Systems, Inc.
- Stock Symbol:
- RRTS
- Status:
- Closed/Complete
NEW YORK, January 31, 2017 – Bragar Eagel & Squire, P.C. is investigating potential claims against Roadrunner Transportation Systems, Inc. (NYSE: RRTS) concerning possible violations of the federal securities laws.
On January 30, 2017, Roadrunner announced that, in connection with an investigation commenced in November 2016, the Company became aware of several possible accounting errors at its Morgan Southern and Bruenger subsidiaries. The Company further disclosed that based on the information from its investigation to date, Roadrunner has located various accounting discrepancies that it anticipates will necessitate prior period adjustments to the Company’s results of operations of between $20 million and $25 million. Roadrunner further stated that various financial statements filed with the Securities and Exchange Commission, related press releases, investor presentations, and other communications describing Roadrunner’s financial statements should no longer be relied upon.
Following this news, Roadrunner shares declined $3.62 per share, or over 31%, on January 31, 2017, to close at $7.92.
If you purchased or otherwise acquired Roadrunner securities and suffered a loss, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On January 30, 2017, Roadrunner announced that, in connection with an investigation commenced in November 2016, the Company became aware of several possible accounting errors at its Morgan Southern and Bruenger subsidiaries. The Company further disclosed that based on the information from its investigation to date, Roadrunner has located various accounting discrepancies that it anticipates will necessitate prior period adjustments to the Company’s results of operations of between $20 million and $25 million. Roadrunner further stated that various financial statements filed with the Securities and Exchange Commission, related press releases, investor presentations, and other communications describing Roadrunner’s financial statements should no longer be relied upon.
Following this news, Roadrunner shares declined $3.62 per share, or over 31%, on January 31, 2017, to close at $7.92.
If you purchased or otherwise acquired Roadrunner securities and suffered a loss, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.