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Former Roadrunner CFO Guilty In $245M Securities, Accounting Fraud Scheme
Monday, August 2, 2021 - 3:05pm | 703The former CFO of Roadrunner Transportation Systems was convicted of violating federal securities laws in a complex, $245 million securities and accounting fraud scheme. A federal jury convicted Peter R. Armbruster, 62, of Milwaukee, on four counts, including securities fraud, misleading...
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Roadrunner's LTL Division Slashes Delivery Times In Multiple Lanes
Thursday, January 30, 2020 - 1:56pm | 511Roadrunner Freight, the LTL division of Roadrunner Transportation (NYSE: RRTS), is implementing changes in its operations that will reduce the company's transit times in 322 lanes across 29 markets, the company said this week. In an unusual public announcement — these sorts of changes tend not to...
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Roadrunner To Sell Prime Division To CHRW To Help Clean Up Balance Sheet
Wednesday, January 29, 2020 - 9:52am | 501Roadrunner Transportation will be able to take a significant step in improving its balance sheet following its agreement to sell its Prime Distribution Services business to C.H. Robinson Worldwide (NASDAQ: CHRW). The sale of Prime Distribution, which is part of Roadrunner's Ascent division, will...
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Roadrunner Announces Departure Of President
Thursday, December 12, 2019 - 10:02am | 688Roadrunner Transportation Systems Inc. (NYSE: RRTS) announced that its president and chief operating officer, Michael L. Gettle, is leaving the company. The transportation and asset-light logistics service provider said Gettle will remain with the company over the next few months to assist with...
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Roadrunner Sells Flatbed Unit, Another Step In Restructuring
Monday, December 9, 2019 - 11:46am | 571Roadrunner Transportation Systems, Inc. (NYSE: RRTS) announced that it has sold its flatbed unit, which operates as D&E Transport based in Clearwater, Minnesota. The transportation and asset-light logistics service provider said that the sale of the unit for $30 million in cash was part of its...
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Roadrunner Incurs Heavy Losses Amid Restructuring
Wednesday, November 6, 2019 - 11:16am | 853Roadrunner Transportation Systems, Inc.'s (NYSE: RRTS) third quarter earnings report resembled a triage list citing everything from goodwill and asset impairments to a labor strike to a malware attack. On November 6, The company reported a $97.8 million net loss, or $2.60 per share, in the third...
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Roadrunner Continues To Restructure, Sells Intermodal Unit To Universal Logistics
Tuesday, November 5, 2019 - 3:04pm | 684Roadrunner Transportation Systems, Inc. (NYSE: RRTS) announced the sale of its intermodal unit, Roadrunner Intermodal Services, to Universal Logistics Holdings, Inc. (NASDAQ: ULH) for $51.25 million in cash on November 5. Roadrunner continues to restructure in 2019. The company completed a re-...
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Roadrunner Announces New CFO
Monday, September 9, 2019 - 11:28am | 517Roadrunner Transportation Systems Inc. (NYSE: RRTS) announced that it has found a replacement for its chief financial officer role. Patrick (Pat) J. Unzicker has joined Roadrunner as executive vice president and CFO. Unzicker most recently served as senior vice president, CFO and treasurer the...
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Roadrunner Sees Another Rough Quarter, "Narrows Strategic Focus"
Wednesday, August 7, 2019 - 10:59am | 605Roadrunner Transportation Systems, Inc. (NYSE: RRTS) reported another big loss in the second quarter of 2019 that was far worse than the consensus estimate, which called for break-even results. The asset-light logistics service provider reported a 14 percent decline in total revenue year-over-year...
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Roadrunner Announces Departure Of CFO That Served During "Difficult Time"
Friday, June 28, 2019 - 11:43am | 718Roadrunner Transportation Systems, Inc. (NYSE: RRTS) announced the departure of its Chief Financial Officer Terence R. Rogers effective at the end of August. The asset-light logistics service provider said, "Rogers' departure is not related to any issues or disagreement regarding the company's...
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Former Roadrunner CFO Joins Two Others Under Indictment; SEC Also Levies Charges
Thursday, April 4, 2019 - 9:55am | 431The former chief financial officer for Roadrunner Transportation has joined two other ex-financial executives from the company as defendants in a criminal action. According to both news reports and court documents, Peter Armbruster, the CFO, was indicted and arrested earlier this week in an action...