INVESTOR ALERT: GPM Announces the Filing of a Securities Class Action on Behalf of Roadrunner Transportation Systems, Inc. Investors and Encourages Investors to Contact the Firm

LOS ANGELES--()--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “Company”) (NYSE: RRTS) securities between May 8, 2014, and January 30, 2017, inclusive (the “Class Period”). Roadrunner investors have until April 3, 2017 to file a lead plaintiff motion.

Investors suffering losses on their Roadrunner investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.

On January 30, 2017, the Company disclosed that sometime in November of 2016, Roadrunner became aware of several possible accounting errors at its Morgan Southern and Bruenger subsidiaries. Roadrunner further disclosed that the Company’s Board of Directors promptly initiated an investigation of the errors, and based on the information to date, Roadrunner has located various accounting discrepancies that it anticipates will necessitate prior period adjustments of between $20 million and $25 million.

On this news, shares of Roadrunner fell over 32% during intraday trading on January 31, 2017.

The complaint filed in this lawsuit alleges that Roadrunner made materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls over financial reporting; (2) the Company’s financial statements dating back to the beginning of 2014 overstated the estimated results of operations; (3) the Company’s financial statements contained errors relating to unrecorded expenses from unreconciled balance sheet accounts including cash, driver and other receivables, and linehaul and other driver payables; and (4) the Company’s financial statements dating back to the beginning of 2014 were not reliable.

If you purchased shares of Roadrunner during the Class Period, you may move the Court no later than April 3, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
https://www.glancylaw.com

Release Summary

INVESTOR ALERT: GPM Announces the Filing of a Securities Class Action on Behalf of Roadrunner Transportation Systems, Inc. Investors and Encourages Investors to Contact the Firm

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Contacts

Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
https://www.glancylaw.com