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VRRM.US
id: 1020
Verra Mobility (VRRM) Resignation of Ernst & Young Case
- On August 28, 2023, Verra disclosed that its independent registered public accounting firm, Ernst & Young, LLP, had resigned.
- On it, $VRRM fell 6.8%, losing $221M+ of shareholder value.
- Investors may have grounds to suspect that Verra hid some financial reporting issues, which led to their losses.
On August 28, 2023, Verra disclosed that its independent registered public accounting firm, Ernst & Young, LLP, had resigned.
On this news, $VRRM fell 6.8% and lost over $221 million of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Verra failed to disclose financial reporting setbacks, which led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Case Status
Inactive Investigation
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08/29/2023