Barrack, Rodos & Bacine Files Securities Class Action Lawsuit Against Roadrunner Transportation Systems, Inc. With Extended Class Period
3/31/2017 - Barrack, Rodos & Bacine has commenced a securities class action titled Public Employees’ Retirement System of Mississippi v. Roadrunner Transportation Systems, Inc., et al., No. 2:17-cv-00474 in the United States District Court for the Eastern District of Wisconsin. The complaint alleges a class period from May 2, 2013 through January 30, 2017. A copy of the complaint is available here.
On January 30, 2017, following the close of the market, Roadrunner announced that certain "financial statements and associated reports" filed with the Securities and Exchange Commission "should no longer be relied upon." The complaint alleges that throughout the Class Period, Roadrunner and the other defendants named in the complaint made materially false and misleading statements and/or failed to disclose that Roadrunner: (a) improperly accounted for the goodwill assets acquired through the Company’s acquisition strategy; (b) improperly accounted for Company expenses; and (c) improperly accounted for existing balance sheet accounts. As a result of these and other alleged improper accounting transactions, during the Class Period Roadrunner’s reported expenses were materially understated, its assets were materially overstated, and its reported revenue and net income were materially inflated.
If you suffered a loss arising from your investment in Roadrunner common stock during the Class Period, you have until April 3, 2017, to file a motion with the Court seeking appointment as lead plaintiff. Your ability to share in any recovery does not require that you serve as a lead plaintiff.
If you have questions about this matter, please contact either Jeffrey A. Barrack, Esq. by email at email@example.com or by telephone at (215) 963-0600 or Samuel M. Ward, Esq. by email at firstname.lastname@example.org, or by telephone at (619) 230-0800.
Barrack, Rodos & Bacine is a highly experienced securities litigation firm with offices in Philadelphia, PA, New York City, NY, and San Diego, CA. During its 40 years in existence, BR&B has recovered over ten billion dollars on behalf of victims of corporate fraud. Prior results do not guarantee similar outcomes.