SHAREHOLDER ALERT: Law firm Pomerantz is investigating claims on behalf of investors from Redwire Corporation f / k / a Genesis Park Acquisition Corp.
NEW YORK, January 04, 2022 (GLOBE NEWSWIRE) – Pomerantz LLP is investigating claims on behalf of investors of Redwire Corporation f / k / a Genesis Park Acquisition Corp. (âRedwireâ or the âCompanyâ) (NYSE: RDW). These investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation is to determine whether Redwire and any of its officers and / or directors have engaged in securities fraud or other illegal business practices.
On September 2, 2021, Genesis Park Acquisition Corp., a special purpose acquisition company, merged with certain entities and was renamed Redwire. Then, on November 10, 2021, Redwire announced that it would postpone the release of its third quarter results, revealing that it “had been made aware by an employee of potential accounting issues in a business sub-unit” and that the committee The company’s audit was investigating the allegations. Following this news, Redwire’s stock price fell $ 1.92 per share, or 16%, to close at $ 9.99 per share on November 10, 2021.
Then, on November 15, 2021, Redwire announced that it was unable to timely file its quarterly report for the period ending September 30, 2021. The Company indicated that due to the ongoing investigation into the issues accountants in a business sub-unit, “the Company has been unable to finalize its financial statements or its assessment of the effectiveness of its disclosure controls and procedures and any impact” on the report. On this news, Redwire’s stock price fell $ 0.93 per share, or 8.3%, over the next two trading days to close at $ 10.32 per share on November 16, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as the Dean of the Class Actions Bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breach of fiduciary duty and professional misconduct. The firm has recovered numerous multi-million dollar damages on behalf of the members of the group. See www.pomlaw.com.
Robert S. Willoughby