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.
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