FORT LAUDERDALE, Fla., Jan. 31, 2017 /PRNewswire/ -- Salpeter Gitkin is investigating potential claims on behalf of investors in Roadrunner Transportation Systems, Inc. ("Roadrunner") (NYSE: RRTS) following the Company's disclosure on January 30, 2017 that it would restate certain of its previously issued financial statements. Roadrunner investors are encouraged to contact James P. Gitkin at (800) 675 - 4128 or firstname.lastname@example.org for additional information.
Specifically, on January 30, 2017, Roadrunner disclosed that, as a result of "information obtained to date in connection with an ongoing investigation" into the Company's accounting, Roadrunner's previously issued financial statements for fiscal years 2014, 2015 and 2016 (year-to-date) should no longer be relied upon due to misstatements. Additionally, the Company disclosed that "Roadrunner has identified various accounting errors that it currently estimates will require prior period adjustments to Roadrunner's results of operations of between $20 million and $25 million." Further, Roadrunner reported the need to record a goodwill impairment charge estimated "in the range of $175 million to $200 million" in its forthcoming quarterly financial report.
On this disclosure, Roadrunner's common stock declined over 30% in early trading on January 31, 2017.
Salpeter Gitkin, LLP is a civil litigation and transactional law firm handling cases throughout the United States. Its principal areas of practice include shareholder and consumer class actions, serious personal injury, complex commercial ligation, and real estate litigation and transactions. The firm is currently investigating and litigating various shareholder claims against major corporations. More information on the firm and its lawyers can be found at www.salpetergitkin.com.
Salpeter Gitkin, LLP
Attn: James P. Gitkin, Esq.
1 E. Broward Boulevard
Fort Lauderdale, FL 33301
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SOURCE Salpeter Gitkin, LLP