NEW YORK, Jan. 31, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Roadrunner Transportation Systems, Inc. ("Roadrunner" or the "Company") (NYSE: RRTS).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to maintain proper accounting procedures.
Specifically, after market-close on January 30, 2017, Roadrunner announced that, after commencing an investigation on November 2016, it had identified accounting discrepancies at its Morgan Southern and Bruenger operating subsidiaries. The errors principally relate to unrecorded expenses from unreconciled balance sheet accounts including cash, driver and other receivables, and linehaul and other driver payables. The Company anticipates prior period adjustments to results of operations of between $20 million and $25 million.
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If you invested in Roadrunner stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/RRTS. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Roadrunner's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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