Lawsuit filed for Investors in shares of Redwire Corporation (NYSE: RDW)

An investor, who purchased shares of Redwire Corporation (NYSE: RDW), filed a lawsuit over alleged violations of Federal Securities Laws by Redwire Corporation f/k/a Genesis Park Acquisition Corp.

Investors who purchased shares of Redwire Corporation (NYSE: RDW) have certain options and for certain investors are short and strict deadlines running. Deadline: February 15, 2022. NYSE: RDW investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Jacksonville, FL based Redwire Corporation, a space infrastructure company, develops, manufactures, and sells mission critical space solutions and components for national security, civil, and commercial markets in the United States and internationally.

Shares of Redwire Corporation (NYSE: RDW) began trading in September 2021 through a merger with a special purpose acquisition company.

On November 9, 2021, Redwire Corporation announced that it would reschedule its earnings announcement for the third quarter ended September 30, 2021, which had been previously scheduled for November 10, 2021. An employee notified Redwire management of potential accounting issues with a business subunit. The Company's Audit Committee has commenced an independent investigation.
Then, on November 15, 2021, Redwire Corporation stated that it could not timely file its quarterly report for the period ended September 30, 2021. Due to the pending investigation into the accounting issues at a business subunit, "the Company has not been able to finalize its financial statements or its assessment of the effectiveness of its disclosure controls and procedures and any impact" on the report.

Shares of Redwire Corporation (NYSE: RDW) declined from $13.79 per share on November 4, 2021, to $6.96 per share on December 6, 2021.

The plaintiff claims that between August 11, 2021 and November 14, 2021, the Defendants failed to disclose to investors that there were accounting issues at one of Redwire’s subunits, that, as a result, there were additional material weaknesses in Redwire’s internal control over financial reporting, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of Redwire Corporation (NYSE: RDW) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.