Rekor Systems, Inc. (REKR)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Rekor Systems, Inc. ("Rekor" or "the Company") (NASDAQ: REKR). The investigation concerns whether Rekor and certain of its officers and/or directors have violated federal securities laws.
On May 26, 2021, Western Edge published a report addressing Rekor, entitled “Rekor Systems: Lackluster Growth Runway And Exaggerated Insurance Scheme Raise Substantial Downside Risk”. The Western Edge report alleged, among other things, that the Company’s “realized results suggest management’s potential revenue guidance could be overstated by up to 80%.” Also on May 26, 2021, Mariner Research Group (“Mariner”) published a report addressing Rekor, entitled “REKR – Government documents to not support investor expectations”. The Mariner report “highlight[ed] government documentation which chows that REKR’s revenue opportunities are likely a fraction of what investors expect.” Among other things, Mariner alleged that “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”. Following publication of the two reports, Rekor’s stock price fell sharply during intraday trading on May 26, 2021.
If you are aware of any facts relating to this investigation, or purchased Rekor shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.