An investigation on behalf of investors of Rekor Systems, Inc. (NASDAQ: REKR) shares over potential securities laws violations by Rekor Systems, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Rekor Systems, Inc. (NASDAQ: REKR) concerning whether a series of statements by Rekor Systems, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Columbia, MD based Rekor Systems, Inc., through its subsidiaries, provides vehicle identification and management systems based on artificial intelligence in the United States, Canada, and internationally.

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."

Shares of Rekor Systems, Inc. (NASDAQ: REKR) declined from $25.38 per share on April 28, 2021 to as low as $9.88 per share on June 15, 2021.