NEW YORK--(BUSINESS WIRE)--Abraham, Fruchter & Twersky, LLP (“AF&T” or the “Firm”) is investigating claims on behalf of shareholders of Roadrunner Transportation Systems, Inc. (“Roadrunner” or the “Company”) (NYSE: RRTS).
On October 26, 2015, Roadrunner surprised investors by slashing its third quarter earnings estimate to between $0.14 to $0.17 per share, a decrease of over 60% compared to its previous earnings guidance of $0.43 to $0.47 per share. In reaction to this announcement, on October 27th the stock of Roadrunner plunged, trading more than 45% below the previous day’s closing price of $17.67 per share. Only weeks earlier, on August 3, 2015, entities affiliated with Scott D. Rued, the Chairman of the Company’s board of directors, sold over $48 million of the Company’s common stock.
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