NEW YORK--(BUSINESS WIRE)--
Bragar Eagel & Squire, P.C. is investigating potential claims against Roadrunner Transportation Systems, Inc. (NYSE:RRTS) concerning possible violations of the federal securities laws.
On January 30, 2017, Roadrunner announced that, in connection with an investigation commenced in November 2016, the Company became aware of several possible accounting errors at its Morgan Southern and Bruenger subsidiaries. The Company further disclosed that based on the information from its investigation to date, Roadrunner has located various accounting discrepancies that it anticipates will necessitate prior period adjustments to the Company’s results of operations of between $20 million and $25 million. Roadrunner further stated that various financial statements filed with the Securities and Exchange Commission, related press releases, investor presentations, and other communications describing Roadrunner’s financial statements should no longer be relied upon.
Following this news, Roadrunner shares declined $3.62 per share, or over 31%, on January 31, 2017, to close at $7.92.
If you purchased or otherwise acquired Roadrunner securities and suffered a loss, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Roadrunner, please go to www.bespc.com/roadrunner. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
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