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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Rekor Systems, Inc. f/k/a Novume Solutions, Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of August 30, 2021 - (REKR)
July 07, 2021 5:39 AM EDT | Source: Gross Law Firm
New York, New York--(Newsfile Corp. - July 7, 2021) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of Rekor Systems, Inc. f/k/a Novume Solutions, Inc. (NASDAQ: REKR).
Shareholders who purchased shares of REKR during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD : April 12, 2019 to May 25, 2021
ALLEGATIONS : The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Rekor's ALPR technology and UVED-related business is outclassed by global competitors with an established, dominant market share; (ii) 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 profitable as Defendants had led investors to believe because of known impediments to enrollment rates and costs associated with the partnership; (iv) accordingly, Rekor had overstated its potential revenues, profitability, and overall ALPR- and UVED-related business prospects; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/89635