SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Verra Mobility Corporation - VRRM
NEW YORK , March 16, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Verra Mobility Corporation ("Verra" or the "Company") (NASDAQ: VRRM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Verra and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 28, 2022, Verra issued a press release "announc[ing] its filing of a Form 12b-25 with the Securities and Exchange Commission ("SEC") to disclose that it will not be able to file its Form 10-K by its due date of March 1, 2022 and is not expected to do so within the 15-day extension period allowed by the Form." Verra further disclosed that "[d]uring its year-end 2021 financial statement review process, Verra Mobility Corporation (the "Company") determined that revenues from the Company's recently acquired Australian subsidiary, Redflex Holdings Limited, may not have been recorded in accordance with generally accepted accounting principles. The Company's Audit Committee is conducting an investigation of the circumstances surrounding these issues to determine, among other things, whether any related adjustment is necessary for the previously issued financial statements for the second and third quarters of fiscal year 2021."
On this news, Verra's stock price fell $0.85 per share, or 4.82%, to close at $16.80 per share on February 28, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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