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How To Find A Class Action Lawyer

Written By Wednesday, March 30, 2022 Add Comment Edit
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Rekor Class Action Reminder

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $l,000 In Rekor To Contact Him Direct To Talk over Their Options

New York, New York--(Newsfile Corp. - August 22, 2021) - Faruqi & Faruqi, LLP, a leading national securities law business firm, is investigating potential claims against Rekor Systems, Inc. ("Rekor" or the "Company") (NASDAQ: REKR) and reminds investors of the August xxx, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you suffered losses exceeding $50,000 investing in Rekor stock or options between Apr 12, 2019 and May 25, 2021 and would like to talk over your legal rights, telephone call Faruqi & Faruqi partner Josh Wilson straight at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/REKR.

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Rekor's ALPR technology and UVED-related business organization is outclassed past global competitors with an established, ascendant market share; (2) it was unlikely that states would pass legislation authorizing deals similar to Rekor's Oklahoma UVED partnership because of, inter alia, state and local privacy laws and related public concerns; (iii) Rekor's UVED partnership was not as assisting equally Defendants had led investors to believe because of known impediments to enrollment rates and costs associated with the partnership; (four) appropriately, Rekor had overstated its potential revenues, profitability, and overall ALPR- and UVED-related business prospects; and (five) equally a result, the Company's public statements were materially false and misleading at all relevant times.

Specifically, on May x, 2021, a beak authorizing the establishment of a state UVED program was excluded from the Texas Legislature'south Daily House Calendar and left awaiting in a state commission. Because May 10, 2021 was the deadline for the Texas UVED neb to move from the committee, news sources reported pregnant market speculation that the bill was dead. Further, on a post-marketplace earnings phone call that same twenty-four hours to talk over Rekor's commencement quarter 2021 financial results, Defendant Berman also indicated that Rekor may non secure a UVED agreement with Texas.

On news of the Texas UVED nib's exclusion from the state's Daily House Agenda, Rekor's stock price fell $v.xx per share, or 27.five%, to shut at $thirteen.71 per share on May ten, 2021. And so, following Defendants' post-market place briefing call with investors the aforementioned day, Rekor's stock price cruel an additional $2.45 per share, or 17.87%, to close at $11.26 per share on May eleven, 2021-representing a 2-day total reject of $seven.65 per share, or xl.45%. Despite this decline in the Company's stock price, Rekor securities continued to trade at artificially inflated prices throughout the balance of the Course Menses because of Defendants' continued misrepresentations or omissions with respect to Rekor'south ALPR business prospects.

Then, on May 26, 2021, private investor Western Border published a report addressing Rekor, entitled "Rekor Systems: Lackluster Growth Rails And Exaggerated Insurance Scheme Raise Substantial Downside Run a risk." The Western Edge written report alleged, amongst other things, that global competition was "miles ahead" of Rekor in ALPR evolution and market establishment; that "realized results suggest management's potential acquirement guidance could exist overstated by up to 80%"; and that investors were at gamble of facing a "massive downside if [the Company'southward] growth doesn't show upwardly."

Besides on May 26, 2021, Mariner published a report addressing Rekor, entitled "REKR - Government documents do non back up investor expectations." The Mariner report largely comported with, and supplemented, the Western Edge written report, finding that, among other things, "Oklahoma government budgets imply that [Rekor]'south much vaunted UVED programme is a sub $2MM revenue opportunity - most 96% less than the >$40MM in acquirement intimated past Rekor'due south CEO" and that Rekor's "largest contributor to 2020 acquirement will fall 95% in 2021 due to its non-recurring nature."

Following publication of the Western Edge and Mariner reports, Rekor's stock cost savage $0.44 per share, or 3.93%, to close at $10.77 per share on May 26, 2021.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought past the form who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative course. Whatsoever member of the putative course may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do naught and remain an absent-minded class fellow member. Your ability to share in whatsoever recovery is not affected by the decision to serve every bit a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Rekor's conduct to contact the firm, including whistleblowers, old employees, shareholders and others.

Chaser Advertising. The police firm responsible for this ad is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a like outcome with respect to any hereafter matter. Nosotros welcome the opportunity to discuss your particular example. All communications will be treated in a confidential style.

To view the source version of this press release, delight visit https://www.newsfilecorp.com/release/94010

Source: https://finance.yahoo.com/news/rekor-class-action-reminder-130300448.html

Posted by: careydrife1958.blogspot.com

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