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Oklahoma City, OK (July 7, 2021) – On June 29, 2021, a securities class action lawsuit was filed in the United States District Court for the District of Maryland (Northern Division) against Rekor Systems, Inc. f/k/a Novume Solutions, Inc. (NASDAQ: REKR; NVMM). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is April 12, 2019 through May 25, 2021. Specifically, the complaint alleges that Rekor failed to disclose that their automatic license plate recognition and uninsured vehicle enforcement diversion program was dominated by global competitors; that their program is not likely to pass legislation due to local privacy laws and related public concerns; and that their program is not as profitable as stated due to known barriers resulting in Rekor exaggerating its potential revenues and business prospects.
The lawsuit seeks to recover damages on behalf of all Rekor Systems, Inc. investors who purchased common stock during the Class Period. You may move the Court no later than Monday, August 30, 2021 to serve as a lead plaintiff for the entire Class.
If you wish to obtain further information and participate in this or any other securities litigation, or should you have any questions regarding this notice or preservation of your rights, please contact: Priscilla Scoggins at email@example.com