Verra Mobility Corporation (VRRM) Investigation

Verra is a provider of smart mobility technology solutions, providing integrated data-driven solutions that include toll and violations management, title and registration services, automated safety and traffic enforcement, and commercial parking management.

In the past, Avis Budget Group has been among Verra’s largest customers, representing more than 10% of  its revenues. Verra has touted its “long-standing” relationship with Avis.

As recently as May 6, 2026 during Verra’s Q1 2026 earnings call, Verra management assured investors that the company had a contract extension with Avis that “enables us to continue to serve the customer without interruption while we continue to negotiate a long-term renewal[]” and “[t]hese discussions are ongoing and constructive.” The company also reaffirmed all 2026 guidance measures.

Twenty days later, on May 26, 2026, investors’ expectations were dashed. Verra disclosed that it received a termination notice effective September 2026 from Avis regarding the companies’ contract. Verra also announced it is taking immediate actions to cut costs, adapt operations, and reposition its business. The company also revised its 2026 outlook that significantly deviated from that given just twenty days prior.

In response, the market sent the price of Verra shares down about 74% during intraday trading on May 27, 2026. The toll amounted to roughly $1.47 billion of the company’s market capitalization being wiped out in a single day.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the VRRM investigation about?

Our investigation is focused on the extent to which and when Verra and its executives knew that renegotiations with Avis were far from constructive, as the May 26 surprise reveals.

WHAT SHOULD I DO?

I worked at VRRM. What should I do?

If you were an employee of VRRM, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in VRRM, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any VRRM investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.