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SAN FRANCISCO, March 20, 2017 -- Hagens Berman Sobol Shapiro LLP reminds investors in Roadrunner Transportation Systems, Inc. (NYSE:RRTS) of the April 3, 2017 Lead Plaintiff deadline in the pending securities class action related to admissions that Roadrunner’s historical financial reports should not be relied on.
If you purchased or otherwise acquired securities of Roadrunner between May 8, 2014 and January 30, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/RRTS
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On January 30, 2017, Roadrunner announced that investors should not rely on the Company’s financial reports for the years ended December 31, 2014 and December 31, 2015, the financial reports for the 2014 and 2015 quarterly periods, or the financial reports for the quarters ended March 31, 2016, June 30, 2016 or September 30, 2016.
In addition, Roadrunner announced that investors should not rely on management’s report on internal controls as of December 31, 2015 or the associated auditor’s report.
Roadrunner explained it would record a goodwill impairment charge in the range of $175 million to $200 million and that the Company failed to record approximately $20 million to $25 million in expenses.
This news drove the price of Roadrunner shares down approximately 33% to close at $7.92 on January 31, 2017.
“We’re focused on when management knew of Roadrunner’s serious accounting problems and the damage inflicted on investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Roadrunner should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
