NEW YORK, March 04, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Verra Mobility Corporation (“Verra” or the “Company”) (NASDAQ: VRRM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether Verra and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
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On February 28, 2022, Verra issued a press release “announcing[ing] his filing of a Form 12b-25 with the Securities and Exchange Commission (“SEC”) to disclose that he will not be able to file his Form 10-K by the March 1, 2022 due date and that he should not do so within the 15-day extension allowed by the form. Verra further revealed that “[d]During its review process of the 2021 year-end financial statements, Verra Mobility Corporation (the “Company”) determined that the revenues of the Company’s recently acquired Australian subsidiary, Redflex Holdings Limited, could not – not be recorded in accordance with generally accepted accounting principles. The Company’s Audit Committee is investigating the circumstances surrounding these issues to determine, among other things, whether a related adjustment is required for the previously issued financial statements for the second and third quarters of fiscal 2021.”
On this news, Verra’s stock price fell $0.85 per share, or 4.82%, to close at $16.80 per share on February 28, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. To see www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980