BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Verra Mobility Corporation (“Verra” or the “Company”) (NASDAQ: VRRM) common stock between February 24, 2026 and May 26, 2026, inclusive (the “Class Period”). Verra investors have until August 4, 2026 to file a lead plaintiff motion.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN VERRA MOBILITY CORPORATION (VRRM), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [email protected], by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
What Happened?
On May 26, 2026, Verra disclosed that it had received a termination notice from Avis Budget Group regarding its contract. The Company accordingly lowered its full year 2026 financial outlook.
On this news, Verra’s stock price fell $9.23, or 70.6%, to close at $3.85 per share on May 27, 2026, thereby injuring investors.
On June 1, 2026, Verra announced that its President and Chief Executive Officer had been terminated as “the Board determined that a change in leadership [was] needed[.]”
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Verra’s optimistic plan for continued growth in its Commercial Services business was dependent on its relationship with Avis, and in particular obtaining a contract extension with Avis Budget; (2) the Company minimized concerns that major RACs could replace Verra with in-house solutions or outsourced alternatives, making Verra’s 2026 full year guidance increasingly unlikely to be met; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Contact Us To Participate or Learn More:
If you purchased Verra common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: [email protected],
Visit our website at: www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Contact Us:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
