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Verra Mobility Corporation (VRRM) CEO Leaves Amid Company Receipt of Termination Notice From Avis Budget Group and 70% Stock Crash -- HBSS

  • Verra Mobility Corporation (NASDAQ: VRRM) announced on June 2, 2026, that CEO David Roberts left the company following a 70% stock price drop on May 27, 2026.
  • The massive share price decline occurred after Verra received a termination notice from major customer Avis Budget Group, which represented over 10% of Verra's revenues.
  • On May 6, 2026, CEO Roberts stated during an earnings call that negotiations with Avis were "ongoing & constructive" while reaffirming 2026 guidance.
  • On May 26, 2026, Verra disclosed the Avis contract termination effective September 2026, leading to immediate cost-cutting measures & a significant revision of its 2026 outlook.
  • Hagens Berman is investigating whether Verra violated federal securities laws by failing to disclose the true status of its relationship with Avis prior to the May 26 announcement.
  • The investigation focuses on determining when Verra executives knew that renegotiations with Avis were not constructive.
  • Investors who suffered substantial losses are encouraged to submit claims, & individuals with non-public information are urged to contact the firm or consider SEC whistleblower options.
  • The firm offers rewards of up to 30% of any SEC recovery for whistleblowers providing original information regarding the case.