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Law Offices of Howard G. Smith announces an investigation on behalf of Rekor Systems, Inc. ("Rekor" or the "Company") (NASDAQ: REKR) investors concerning the Company’s possible violations of federal securities laws.
On May 26, 2021, Western Edge published a report entitled "Rekor Systems: Lackluster Growth Runway and Exaggerated Insurance Scheme Raise Substantial Downside Risk," alleging, among other things, that the Company’s "realized results suggest management’s potential revenue guidance could be overstated by up to 80%."
The same day, Mariner Research Group published a report entitled "REKR - Government documents do not support investor expectations." According to the report, "government documentation . . . shows that REKR’s revenue opportunities are likely a fraction of what investors expect." For example, "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."
On this news, Rekor’s stock price fell $0.44 per share, or 3.93%, to close at $10.77 per share on May 26, 2021.
If you purchased Rekor securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210604005661/en/