San Diego, CA -- (SBWire) -- 06/24/2021 --Rekor Systems, Inc is under investigation over potential securities laws violations by Rekor Systems, Inc. in connection with certain financial statements.
Investors who purchased shares of Rekor Systems, Inc. (NASDAQ: REKR), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on 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.
Those who purchased shares of Rekor Systems, Inc. (NASDAQ: REKR) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Rekor Systems, Inc. (NASDAQ:REKR) Shareholder Notice: Investigation over Possible Violations of Securities Laws
An investigation for investors in Rekor Systems, Inc. (NASDAQ:REKR) shares over potential securities laws violations by Rekor Systems, Inc. was announced.