SHAREHOLDER ALERT: Law firm Pomerantz is investigating claims on behalf of investors in Redwire Corporation f/k/a Genesis Park Acquisition Corp. -RDW |
NEW YORK, February 4, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors in Redwire Corporation f/k/a Genesis Park Acquisition Corp. (“Redwire” or the “Company”) (NYSE:RDW). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation focuses on whether Redwire and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
At September 2, 2021, Genesis Park Acquisition Corp., a special purpose acquisition company, combined with certain entities and renamed Redwire. Then, on November 10, 2021, Redwire announced that it will postpone the publication of its third quarter results, revealing that it “had been informed by an employee of potential accounting issues in a business subunit” and that the company’s audit committee was investigating on the allegations. At this news, Redwire’s stock price plummeted. $1.92 per share, or 16%, to close at $9.99 per share on November 10, 2021.
Then, on November 15, 2021Redwire announced that it could not timely file its quarterly report for the period ended September 30, 2021. The Company reported that due to the ongoing investigation of accounting issues for a business sub-unit, “the Company has not been able to finalize its financial statements or its assessment of the effectiveness of its disclosure controls and procedures and any impact” on the report. At this news, Redwire’s stock price plummeted. $0.93 per share, or 8.3%, over the next two trading sessions to close at $10.32 per share on November 16, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Parisand Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered 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, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP