Lawsuits Filed Against WPG, REKR and LOTZ - Jakubowitz Law Pursues Shareholders Claims
NEW YORK, NY / ACCESSWIRE / July 12, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Washington Prime Group, Inc. (NYSE:WPG)
CONTACT JAKUBOWITZ ABOUT WPG:
https://claimyourloss.com/securities/washington-prime-group-inc-loss-submission-form/?id=17592&from=1
Class Period : November 5, 2020 - March 4, 2021
Lead Plaintiff Deadline : July 23, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) WPG's financial condition was deteriorating substantially; (2) as a result, there was substantial uncertainty about the Company's ability to meet its capital structure obligations as they became due; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Rekor Systems, Inc. f/k/a Novume Solutions, Inc. (NASDAQ:REKR)
CONTACT JAKUBOWITZ ABOUT REKR:
https://claimyourloss.com/securities/rekor-systems-inc-f-k-a-novume-solutions-inc-loss-submission-form/?id=17592&from=1
Class Period : April 12, 2019 - May 25, 2021
Lead Plaintiff Deadline : August 30, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Rekor's automatic license plate recognition ("ALPR") technology and uninsured vehicle enforcement diversion ("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.
CarLotz, Inc. (NASDAQ:LOTZ)
CONTACT JAKUBOWITZ ABOUT LOTZ:
https://claimyourloss.com/securities/carlotz-inc-loss-submission-form/?id=17592&from=1
Class Period : December 30, 2020 - May 25, 2021
Lead Plaintiff Deadline : September 7, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) due to a surge in inventory during the second half of fiscal 2020, CarLotz was experiencing a "logjam" resulting in slower processing and higher days to sell; (2) as a result, the Company's gross profit per unit would be negatively impacted; (3) to minimize returns to the corporate vehicle sourcing partner responsible for more than 60% of CarLotz's inventory, the Company was offering aggressive pricing; (4) as a result, CarLotz's gross profit per unit forecast was likely inflated; (5) this Company's corporate vehicle sourcing partner would likely pause consignments to the Company due to market conditions, including increasing wholesale prices; and (6) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE: Jakubowitz Law
View source version on accesswire.com:
https://www.accesswire.com/655256/Lawsuits-Filed-Against-WPG-REKR-and-LOTZ--Jakubowitz-Law-Pursues-Shareholders-Claims
