World News: 13:30 GMT Monday 20th March 2017. [Hagens Berman Sobol Shapiro LLP via Globe Newswire via SPi World News]
SAN FRANCISCO, March 20, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Roadrunner Transportation Systems, Inc. (NYSE:RRTS) of the 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 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling or emailing .
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.
Reed Kathrein, 510-725-3000
Globe Newswire: 13:30 GMT Monday 20th March 2017
SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2017. [Admin Only]
Sector Publishing Intelligence Ltd.
Ground Floor Offices, Little Keep Gate, Barrack Road, Dorchester, Dorset DT1 1AH
Registered in England and Wales number 0751938.