The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Complaint alleges 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 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.
Rekor Systems, Inc. Securities Litigation
Jul 01, 2021 | Rekor Systems Inc. Common Stock NASDAQ: REKR | Case Status: Filed
Filing Deadline: August 30, 2021
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First Identified Complaint
Robert Keith Miller, et al. v. Rekor Systems, Inc., et al.
First Identified Complaint Filings
|#||Document Title||Filing Date|
|1||Class Action Complaint||June 29th, 2021|
|2||U.S. District Court Civil Docket||June 30th, 2021|