WASHINGTON--(BUSINESS WIRE)--Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
A class action lawsuit was filed in the U.S. District Court for the District of Eastern District of Wisconsin by another law firm on behalf of purchasers of the common stock of Roadrunner Transportation Systems, Inc. (NYSE: RRTS) between May 8, 2014 and January 30, 2017, inclusive (the “Class Period”).
The complaint alleges that Roadrunner and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) Roadrunner’s Morgan Southern, Inc. and Bruenger Trucking subsidiaries had engaged in improper accounting practices; (2) Roadrunner lacked effective internal controls; (3) as a result, Roadrunner overstated its earnings throughout the Class Period by tens of millions of dollars; and (4) as a result of the foregoing, Roadrunner’s financial statements were materially false and misleading.
The claims in this case followed the Company’s announcement on January 30, 2017, that it would have to restate its financial statements dating back to 2014 due to miscellaneous accounting errors at its Morgan Southern and Bruenger subsidiaries. Roadrunner announced that correction of the errors would result in adjustments to its previously reported results of operations in the range of $20 to $25 million. The price of Roadrunner shares fell from $11.54 to $7.92 on January 31.
Cohen Milstein encourages all investors who purchased Roadrunner common stock between May 8, 2014 and January 30, 2017, or former employees with information concerning this matter to contact the firm.
If you are a Roadrunner shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at firstname.lastname@example.org. If you wish to serve as lead plaintiff, you must move the Court no later than April 3, 2017 to request appointment. Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.
Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation. Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total billions of dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.
If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Steven J. Toll, Esq.
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: email@example.com; firstname.lastname@example.org