SHAREHOLDER ACTION NOTICE: The Schall Law Firm Reminds Investors of a Class Action Lawsuit Against Rekor Systems, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm
Los Angeles, California--(Newsfile Corp. - July 26, 2021) - The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Rekor Systems, Inc. f/k/a Novume Solutions, Inc. ("Rekor" or "the Company") (NASDAQ: REKR) (NASDAQ: NVMM) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between April 12, 2019 and May 25, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before August 30, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Rekor's business in automatic license plate recognition ("ALPR") technology and uninsured vehicle enforcement diversion ("UVED") was not competitive with competitors that already held a dominant market share. It was unlikely that other states would approve legislation allowing deals with the Company similar to its partnership in Oklahoma due to privacy concerns. The Company's UVED partnership had not attained the level of profitability that it had touted to the market. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Rekor, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91216.