Press release
Investigation announced for NASDAQ: VRRM Investors over possible Violations of Securities Laws by Verra Mobility Corporation
An investigation for investors in Verra Mobility Corporation (NASDAQ: VRRM) shares over potential securities laws violations.
Investors who purchased shares of Verra Mobility Corporation (NASDAQ: VRRM), 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 Verra Mobility Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Mesa, AZ based Verra Mobility Corporation provides smart mobility technology solutions and services in the United States, Canada, and Europe. Verra Mobility Corporation reported that its annual Total Revenue declined from $448.73 million in 2019 to $393.59 million in 2020, and that its net Income of $33.34 million in 2019 turned into a Net Loss of $3.44 million in 2020.
On or around February 28, 2021, Verra Mobility Corporation (the "Company") determined that revenues from the Company's recently acquired Australian subsidiary, Redflex Holdings Limited, may not have been recorded by generally accepted accounting principles. The Company's Audit Committee is investigating 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 the fiscal year 2021.
Shares of Verra Mobility Corporation (NASDAQ: VRRM) declined from $18.13 per share on February 16, 2022, to as low as $15.30 per share on March 8, 2022.
Those who purchased shares of Verra Mobility Corporation (NASDAQ: VRRM) 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.
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