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Roadrunner Transportation Systems Inc (NYSE:RRTS) Investor Securities Class Action Lawsuit 11/17/2015

  • If you purchased shares of Roadrunner Transportation Systems Inc (NYSE:RRTS), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Roadrunner Transportation Systems Inc
Security
NYSE: RRTS

Case Name
Roadrunner Transportation Systems Shareholder Class Action Lawsuit 11/17/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of New York

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Class Period End
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Summary

January 22, 2016 - the case was voluntarily dismissed.

November 17, 2015 (Shareholders Foundation) - An investor in shares of Roadrunner Transportation Systems Inc (NYSE:RRTS) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Roadrunner Transportation Systems Inc in connection with certain allegedly false and misleading statements made between July 30, 2015 between October 26, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Roadrunner Transportation Systems Inc (NYSE:RRTS) common shares between July 30, 2015 between October 26, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between July 30, 2015 between October 26, 2015 defendants issued materially false and misleading statements to investors and/or failed to disclose the avian flu epidemic would have an adverse impact on Roadrunner Transportation Systems’ financial condition, and that as a result, defendants’ statements about Roadrunner Transportation Systems’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. 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 Inc’s 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.