Wolf Popper LLP Announces Investigation of Fraud Claims on Behalf of Investors in Roadrunner Transportation Systems, Inc.
Wolf Popper LLP Announces Investigation of Fraud Claims on Behalf of Investors in Roadrunner Transportation Systems, Inc.
PR Newswire
NEW YORK, Jan. 31, 2017
NEW YORK, Jan. 31, 2017 /PRNewswire/ -- Wolf Popper LLP is investigating potential claims on behalf of investors in Roadrunner Transportation Systems, Inc. (NYSE: RRTS) resulting from Roadrunner's disclosure it will have to amend its previously filed Annual Report on Form 10-K for the year ended December 31, 2015 and its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2016, June 30, 2016 and September 30, 2016. Roadrunner investors can contact Fei-Lu Qian at 877.370.7703 or [email protected] for more information.
After the market closed on January 30, 2017, RRTS disclosed it was made aware in November 2016 of various potential accounting discrepancies at its Morgan Southern and Bruenger operating subsidiaries. Roadrunner commenced an investigation, which identified accounting errors that RRTS currently estimates will require prior period adjustments to RRTS's results of operations of between $20 million and $25 million. The errors principally relate to unrecorded expenses from unreconciled balance sheet accounts including cash, driver and other receivables, and linehaul and other driver payables. Roadrunner's stock price plummeted overnight by $3.24 a share, or approximately 28%, as a result of the disclosure.
Wolf Popper LLP has extensive experience representing shareholders in securities class actions. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com.
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Wolf Popper LLP
Fei-Lu Qian
845 Third Avenue
New York, NY 10022
Tel.: 877.370.7703
Fax: 877.370.7704
Email: [email protected]
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SOURCE Wolf Popper LLP
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