NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Rekor Systems, Inc. (NASDAQ: REKR) on behalf of Rekor stockholders. Our investigation concerns whether Rekor has violated the federal securities laws and/or engaged in other unlawful business practices.
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On May 26, 2021, Western Edge published a report entitled “Rekor Systems: Lackluster Growth Runway and Exaggerated Insurance Scheme Raise Substantial Downside Risk,” alleging, among other things, that the Company’s “realized results suggest management’s potential revenue guidance could be overstated by up to 80%.”
The same day, Mariner Research Group published a report entitled “REKR - Government documents to not support investor expectations.” According to the report, “government documentation . . . shows that REKR’s revenue opportunities are likely a fraction of what investors expect.” For example, “Oklahoma government budgets imply that REKR’s much vaunted UVED program is a sub $2MM revenue opportunity--almost 96% less than the) $40MM in revenue intimated by Rekor’s CEO.”
On this news, Rekor’s stock price fell $0.44 per share, or 3.93%, to close at $10.77 per share on May 26, 2021.
If you purchased or otherwise acquired Rekor shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.