BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf of Verra Mobility Corporation (“Verra” or the “Company”) (NASDAQ: VRRM) investors concerning the Company’s possible violations of federal securities laws.
On February 28, 2022, Verra announced that revenues from its recently acquired Australian subsidiary, Redflex Holdings Limited, were not recorded in accordance with generally accepted accounting principles. The Company’s Audit Committee was investigating whether any related adjustment is necessary for the previously issued financial statements for the second and third quarters of fiscal year 2021. As a result, Verra would not timely file its 2021 annual report.
On this news, Verra’s stock fell $0.85, or 4.8%, to close at $16.80 per share on February 28, 2022, thereby injuring investors.
If you purchased Verra securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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