NEW YORK, Feb. 21, 2017 /PRNewswire/ -- The law firm Gardy & Notis, LLP announces that a lawsuit has been filed on behalf of a class who purchased Roadrunner Transportation Systems, Inc. ("Roadrunner") (NYSE: RRTS) securities between May 8, 2014, and January 30, 2017, inclusive (the "Class Period").
If you are an investor who purchased Roadrunner securities between May 8, 2014, and January 30, 2017 please contact Mark C. Gardy at Gardy & Notis, LLP, 126 East 56th Street, New York, NY 10022, Telephone: 212-905-0509, email: email@example.com to learn more about the lawsuit and how to apply to the court to be the lead plaintiff. The deadline to file is April 3, 2017.
The lawsuit claims that Roadrunner and certain of its officers made materially false and/or misleading statements and/or failed to disclose certain information making Roadrunner's financial statements since early 2014 unreliable. On January 30, 2017, Roadrunner disclosed that certain of its previously issued financial statements should no longer be relied upon due to misstatements. The Company also reported 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." Roadrunner reported that it would need to record a goodwill impairment charge, estimated "in the range of $175 million to $200 million," in its upcoming quarterly financial report.
On this news, shares of the Company's stock fell $3.62 per share, or over 31%, to close on January 31, 2017 at $7.92 per share, on unusually heavy trading volume.
A class action lawsuit has already been filed. If you lost money in connection with your Roadrunner securities, you have until April 3, 2017 to request that the Court appoint you as lead plaintiff.
Gardy & Notis, LLP specializes in large, complex litigation in the fields of securities, corporate governance, and mergers and acquisitions. The attorneys at Gardy & Notis, LLP have served as a plaintiffs' lead counsel in some of the largest securities fraud class action recoveries.
Attorney Advertising. Past results do not guarantee future outcomes.
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SOURCE Gardy & Notis, LLP