Investigation Overview
November 2, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Roadrunner Transportation Systems Inc (NYSE:RRTS) shares over potential securities laws violations by Roadrunner Transportation Systems and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Roadrunner Transportation Systems Inc (NYSE:RRTS) concerning whether a series of statements by Roadrunner Transportation Systems regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Roadrunner Transportation Systems Inc reported that its annual total Revenue rose from $843.63 million in 2011 to over $1.87 billion in 2014 and that its respective Net Income increased from $25.87 million to $51.97 million.
On July 29, 2015, Roadrunner Transportation Systems Inc reported its second quarter 2015 results and announced its third quarter 2015 guidance. Among other things, Roadrunner Transportation Systems Inc announced that it expected diluted earnings per share to be between $0.43 and $0.47 for the third quarter of 2015.
On August 7, 2015, Roadrunner Transportation Systems Incs Chairman of the Board Scott Rued sold 2,000,000 Roadrunner Transportation Systems shares through various investment entities at $24.34 per share for proceeds of over $48,000,000.
On October 26, 2015, Roadrunner Transportation Systems Inc announced a revision to its guidance for the third quarter of 2015 and guidance for the fourth quarter of 2015. Roadrunner Transportation Systems Inc lowered its previously issued guidance for the third quarter of 2015 and announced that it expected diluted earnings per share to be between $0.14 and $0.17 per share.
Shares of Roadrunner Transportation Systems Inc (NYSE:RRTS) declined to as low as $8.91 per share on October 27, 2015.