Investigation of Potential Action on Behalf of Roadrunner Transportation Services, Inc. (RRTS)
Kessler Topaz Meltzer & Check, LLP is investigating a potential shareholder action on behalf of current shareholders of Roadrunner Transportation Services, Inc. (“Roadrunner”).
About Roadrunner Transportation Services, Inc.
Roadrunner offers truck freight transportation services. The Company operates through three segments: Truckload Logistics, Less-than-Truckload and Global Solutions.
Alleged Wrongful Conduct
Kessler Topaz Meltzer & Check, LLP is investigating potential breaches of fiduciary duties by members of Roadrunner’s Board of Directors, which may have caused harm to the company and its shareholders.
On January 30, 2017, Roadrunner disclosed that, as a result of “information obtained to date in connection with an ongoing investigation” into the Company’s accounting, certain of Roadrunner’s previously issued financial statements should no longer be relied upon due to misstatements. Additionally, the Company reported that “Roadrunner has identified various accounting errors that it currently estimates will require prior period adjustments to Roadrunner’s results of operations of between $20 million and $25 million.” Further, Roadrunner reported that it would need to record a goodwill impairment charge, estimated “in the range of $175 million to $200 million,” in its upcoming quarterly financial report. Following this news, shares of the Company’s stock declined over 30%.
If you currently own shares of Roadrunner Transportation Services, Inc. (RRTS) and would like to learn more about our investigation, please fill out our online form or contact us today at 888-299-7706 or email@example.com.