PHILADELPHIA, June 30, 2021 (GLOBE NEWSWIRE) — Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Rekor Systems, Inc., f/k/a Novume Solutions, Inc. (“Rekor” or the “Company”) (NASDAQ: REKR) to determine whether Rekor engaged in securities fraud or other unlawful business practices.
A c
lass action lawsuit
ha
s
been
filed in United States District Court
for the District
o
f Maryland
on behalf of
investors who purchased, or otherwise acquired,
the securities of
Rekor
between
April 12,
2
019
and May 25, 2021, both dates inclusive (
the
“Class Period”).
According to the lawsuit, throughout the Class Period, the Rekor Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies.
According to the complaint, the Rekor Defendants made 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 the Rekor 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.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED,
REKOR
SECURITIES
DURING THE CLASS PERIOD
AND SUFFERED LOSSES
GREATER THAN $
50
,000
ARE ENCOURAGED TO
COMPLETE KEHOE LAW FIRM’S
SECURITIES CLASS ACTION QUESTIONNAIRE
OR CONTACT
MICHAEL YARNOFF, ESQ.,
[email protected]
,
[email protected]
,
TO DISCUSS THE
SECURITIES
CLASS ACTION
INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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