HAGENS BERMAN, NATIONAL PROCIAL ATORNEYS, Encourages Redwire Corporation (RDW) Investors With Losses To Contact Firm Lawyers, Securities Fraud Class Action Has Been Filed
SAN FRANCISCO, CA / ACCESSWIRE / December 17, 2021 / Hagens Berman urges Redwire Corporation (NYSE: RDW) investors with significant losses at submit your losses now.
Class period: August 11, 2021 – November 14, 2021
Lead Applicant Deadline: February 15, 2021
Contact a lawyer now:[email protected]
Redwire Corporation (RDW) Securities Class Action:
The action stems from Redwire’s allegedly false and misleading financial statements that led to its merger with Genesis Park Acquisition Corp. (GPAC) in early September 2021.
Specifically, the Defendants made false statements and did not disclose: (1) that there were accounting problems in one of Redwire’s sub-units; (2) that, as a result, there were additional material weaknesses in Redwire’s internal control over financial reporting; and (2) that as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were materially misleading and / or lacked reasonable basis.
The truth began to emerge on November 10, 2021, when the company announced that it would not release its third quarter 2021 financial results as expected on that day. Redwire explained that an employee raised concerns about potential accounting issues with a business unit 5 days previously and that their audit committee was investigating the employee’s complaints.
Then, on November 15, 2021, before the market opened, Redwire announced that due to the ongoing investigation, âthe company has not been able to finalize its financial statements. [for the period ended Sep. 30, 2021] or its assessment of the effectiveness of its disclosure controls and procedures and of any impact “on the report.
These disclosures caused the price of Redwire’s shares to drop sharply.
“We focus on investor losses and prove that Redwire manipulated its financial results to mislead investors,” said Reed Kathrein, the Hagens Berman partner who is leading the investigation.
If you have invested in Redwire and suffered significant losses, or have knowledge that could help the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Those with non-public information regarding Redwire should consider their options to assist with the investigation or take advantage of the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards totaling up to 30% of any successful recoveries made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or send an email to [email protected]
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities across the country and more than eighty lawyers. The firm represents investors, whistleblowers, workers and consumers in complex litigation. To learn more about the company and its successes, visit hbsslaw.com. For the latest news, visit our writing or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
THE SOURCE: Hagens Berman Sobol Shapiro LLP
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