Roadrunner Transportation Systems, Inc. (NYSE: RRTS)

Join This Class Action

NEW YORK, NY – February 9, 2017 – Wolf Haldenstein Adler Freeman & Herz LLP   announces that a federal securities class action was filed against that a federal class action lawsuit has been filed against Roadrunner Transportation Systems, Inc. (NYSE: RRTS) (“Roadrunner” or the “Company”) on behalf of purchasers of the Company’s securities between May 8, 2014 and January 30, 2017, inclusive (the “Class Period”), in the United States District Court for the Eastern District of Wisconsin.

Investors who have incurred losses in shares of  Roadrunner Transportation Systems, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.  

If   you  have  purchased  shares of Roadrunner Transportation Systems, Inc.  within the class period and would like to assist with the litigation process, you may, no later than April 3, 2017, request that the Court appoint you lead plaintiff of the proposed class.

The filed complaint alleges that Roadrunner and certain of its executive officers made a series of materially false and misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and prospects to investors during the Class Period. Specifically, the defendants are alleged to have made false and misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls over financial reporting; (2) the Company’s financial statements dating back to the beginning of 2014 overstated the estimated results of operations; (3) the Company’s financial statements contained errors relating to unrecorded expenses from unreconciled balance sheet accounts including cash, driver and other receivables, and linehaul and other driver payables; and (4) the Company’s financial statements dating back to the beginning of 2014 were not reliable.

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.

On this news, shares of the Company’s stock fell $3.62 per share, or over 31%, to close on January 31, 2017 at $7.92 per share, on unusually heavy trading volume.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately  contact  Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.

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Certification and Authorization Pursuant to Federal Securities Laws
  • The individual or entity listed below authorizes and, upon execution of the accompanying retainer agreement by Wolf Haldenstein Adler Freeman & Herz LLP, retains Wolf Haldenstein Adler Freeman & Herz LLP to file an action under the federal securities laws to recover damages and to seek other relief against Roadrunner Transportation Systems, Inc. (NYSE: RRTS). Wolf Haldenstein Adler Freeman & Herz LLP will prosecute the action on a contingent fee basis and will advance all costs and expenses. The Roadrunner Transportation Systems, Inc. (NYSE: RRTS) Retention Agreement provided to the Plaintiff is incorporated by reference, upon execution by Wolf Haldenstein Adler Freeman & Herz LLP.

  • I, individually or on behalf of the entity I represent ("I"), hereby certify as follows:

    1. I have reviewed the complaint and authorize the filing of a lead plaintiff motion or action on my behalf.
    2. I did not acquire the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this private action or any other litigation under the federal securities laws.
    3. I am willing to serve as a representative party on behalf of a class, including providing testimony at deposition and trial, if necessary.
    4. I represent and warrant that I am fully authorized to enter into and execute this certification.
    5. I will not accept any payment for serving as a representative party on behalf of the class beyond my pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    6. I have made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Type of SecurityBuy Date (mm/dd/yy)# of SharesPrice per Share 
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  • Type of SecuritySell Date (mm/dd/yy)# of SharesPrice per Share 
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  • Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

Date of signing: 02/26/2017