Mercedes-Benz Faces Rising Competition in China but Rejects Price War Strategy 
Brazil Blocks Prediction Market Platforms, Tightens Derivatives Trading Rules 
PLS Reports Record Lithium Output as EV Demand Fuels Market Growth 
Microsoft Commits $18 Billion to Expand AI and Cloud Infrastructure in Australia 
U.S. Raises Alarm Over Chinese AI Firms’ Alleged IP Theft Through Model Distillation 
Hyundai Plans 20 New Models in China to Boost EV Strategy and Market Share 
$16B Michigan Data Center Project Boosts U.S. AI Infrastructure Expansion 
Rising Jet Fuel Costs from Iran Conflict Push Airfare Higher Across Europe 
Nvidia Pushes 800V Data Center Power Systems to Boost Efficiency and Cut Costs 
SK Hynix Reports Record Q1 Profit Surge Driven by AI Memory Chip Demand 
U.S. Sanctions Target Chinese Refinery Over Iranian Oil Purchases 
Daiichi Sankyo Stock Drops After Earnings Delay and Oncology Review 
Judge Dismisses Elon Musk’s Fraud Claims Against OpenAI, Trial to Proceed on Remaining Allegations 
Elon Musk Signals Intel 14A Chips for Tesla’s Terafab AI Semiconductor Venture 
SK Hynix to Invest $13 Billion in AI Chip Packaging Facility 
Meta Expands AI Training With Employee Activity Tracking Tools 
Florida Launches Criminal Probe Into OpenAI Over FSU Shooting Incident 
IRVINE, Calif., March 31, 2017 -- Khang & Khang LLP (the “Firm”) announces a class action lawsuit against Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “Company”) (NYSE:RRTS). Investors who purchased or otherwise acquired shares between May 8, 2014 and January 30, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm before the April 3, 2017 lead plaintiff motion deadline.
If you purchased shares of Roadrunner during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the Complaint, Roadrunner made false and/or misleading statements and/or failed to disclose: that the Company’s Morgan Southern and Bruenger subsidiaries had engaged in improper accounting practices; that Roadrunner lacked effective internal controls; that Roadrunner overstated its earnings throughout the Class Period by tens of millions of dollars; and that as a result of the above, Roadrunner’s financial statements were materially false and misleading at all relevant times.
On January 30, 2017, post-market, Roadrunner announced that in November 2016, the Company “was made aware of various potential accounting discrepancies at its Morgan Southern and Bruenger operating subsidiaries” and commenced an investigation with the assistance of outside counsel.
While the investigation remains ongoing, Roadrunner advised investors that the Company “currently estimates it will require prior period adjustments to Roadrunner’s results of operations of between $20 million and $25 million” in the Company’s annual and quarterly financial reporting for the years 2014, 2015, and 2016. Roadrunner advised investors that the errors “principally relate to unrecorded expenses from unreconciled balance sheet accounts including cash, driver and other receivables, and linehaul and other driver payables,” and that the Company is reassessing its internal controls over financial reporting and its compliance programs.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Contact Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 [email protected]
