NASDAQ: REKR, NVMM

Rekor Systems, Inc. f/k/a Novume Solutions, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Rekor Systems, Inc. f/k/a Novume Solutions, Inc. (NASDAQ: REKR, NVMM) between April 12, 2019 and May 25, 2021, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 30, 2021.

If you purchased Rekor securities between April 12, 2019 and May 25, 2021 and would like to join the action, please click “Join This Class Action.”

Class Period:April 12, 2019 through May 25, 2021
If you purchased Rekor securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

  • Rekor’s automatic license plate recognition (“ALPR”) technology and uninsured vehicle enforcement diversion (“UVED”) related business are outclassed by global competitors with an established, dominant market share;
  • 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;
  • 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;
  • accordingly, Rekor had overstated its potential revenues, profitability, and overall ALPR and UVED related business prospects; and
  • as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: Rekor Systems, Inc. f/k/a Novume Solutions, Inc.
Stock Symbol: REKR, NVMM
Class Period: April 12, 2019 through May 25, 2021
Court: United States District Court for the District of Maryland

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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