Roadrunner Transportation Systems Receives Anticipated NYSE Notice Due to Previously Announced Late Form 10-K Filing
April 06 2018 - 6:00AM
Business Wire
Roadrunner Transportation Systems, Inc. (“Roadrunner” or the
“company”) (NYSE: RRTS), a leading asset-right transportation and
asset-light logistics service provider, announced today that, as
anticipated, it has received a notice from the New York Stock
Exchange (the “NYSE”) that Roadrunner is not in compliance with the
NYSE’s continued listing requirements under the timely filing
criteria set forth in Section 802.01E of the NYSE Listed
Company Manual as a result of Roadrunner’s failure to timely file
its Annual Report on Form 10-K for the fiscal year ended December
31, 2017 (the “Form 10-K”). Such notices are routinely issued by
the NYSE when there are late filings with the Securities and
Exchange Commission (the “SEC”).
As previously disclosed by Roadrunner, in late January 2018
Roadrunner completed a restatement of previously reported financial
results and filed an amended Annual Report on Form 10-K/A for the
year ended December 31, 2015, amended Quarterly Reports on Form
10-Q/A for the quarterly periods ended March 31, 2016, June 30,
2016 and September 30, 2016, and an Annual Report on Form 10-K for
the year ended December 31, 2016. On March 30, 2018, Roadrunner
filed its Quarterly Reports on Form 10-Q for the quarterly periods
ended March 31, 2017, June 30, 2017 and September 30, 2017.
Roadrunner is working diligently to complete the steps necessary to
file the Form 10-K as soon as practicable, and expects to file the
Form 10-K during the second quarter of 2018.
The NYSE informed Roadrunner that, under the NYSE’s rules,
Roadrunner has until October 3, 2018 to file the Form 10-K with the
SEC. Roadrunner can regain compliance with the NYSE listing
standards before that deadline by filing the Form 10-K with the
SEC. If Roadrunner fails to file the Form 10-K by the NYSE’s
compliance deadline, the NYSE may grant, at its sole discretion, an
extension of up to six additional months for Roadrunner to regain
compliance, depending on the specific circumstances.
About Roadrunner Transportation Systems, Inc.
Roadrunner is a leading asset-right transportation and
asset-light logistics service provider offering a full suite of
solutions under the Roadrunner Freight, Roadrunner Express,
Roadrunner Temperature Controlled, Roadrunner Intermodal Services
and Ascent Global Logistics® brands. The Roadrunner brand offers
solutions including less-than-truckload, air and ground domestic
and cross-border expedite, dry van and temperature controlled
truckload logistics and intermodal services. The Ascent Global
Logistics brand offers domestic freight management, retail
consolidation, international freight forwarding and customs
brokerage. For more information, please visit Roadrunner’s
websites, www.rrts.com and www.ascentgl.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which relate to future events or performance.
Forward-looking statements include, among others, statements
regarding the timing of filing the Form 10-K. These statements are
often, but not always, made through the use of words or phrases
such as “may,” “will,” “anticipate,” “estimate,” “plan,” “project,”
“continuing,” “ongoing,” “expect,” “believe,” “intend,” “predict,”
“potential,” “opportunity,” and similar words or phrases or the
negatives of these words or phrases. These forward-looking
statements are based on Roadrunner’s current assumptions,
expectations and beliefs and are subject to substantial risks,
estimates, assumptions, uncertainties and changes in circumstances
that may cause Roadrunner’s actual results, performance or
achievements, to differ materially from those expressed or implied
in any forward-looking statement. Such factors include, among
others, risks related to the restatement of Roadrunner’s previously
issued financial statements, the remediation of Roadrunner’s
identified material weaknesses in its internal control over
financial reporting, the litigation resulting from the restatement
of Roadrunner’s previously issued financial statements and the
other risk factors contained in Roadrunner’s SEC filings, including
Roadrunner’s Annual Report on Form 10-K for the year ended December
31, 2016. Because the risks, estimates, assumptions and
uncertainties referred to above could cause actual results or
outcomes to differ materially from those expressed in any
forward-looking statements, you should not place undue reliance on
any forward-looking statements. Any forward-looking statement
speaks only as of the date hereof, and, except as required by law,
Roadrunner assumes no obligation and does not intend to update any
forward-looking statement to reflect events or circumstances after
the date hereof.
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version on businesswire.com: https://www.businesswire.com/news/home/20180406005170/en/
Reputation PartnersMarilyn Vollrath414-376-8834ir@rrts.com
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