Rekor Systems: files verified complaint against former director

What happened

• Rekor Systems, Inc. (REKR) filed a verified complaint on Oct 16, 2026 in the Court of Chancery of the State of Delaware against former director Viraj Mehta alleging breach of his fiduciary duty of loyalty in connection with the Company’s Dec 2025 financing.
• The company’s board of directors authorized the action. On Oct 19, 2026 the company issued a press release announcing the action.

Key details

• Complaint filed: Oct 16, 2026; press release issued: Oct 19, 2026.
• Defendant: Viraj Mehta, former director.
• Relief sought: compensatory damages, disgorgement, restitution of director compensation and other relief.
• The filing states the allegations have not been adjudicated and the company cannot predict the outcome.

Why it may matter

• Item reported: Item 7.01 (Regulation FD disclosure) — the filing reports the company’s litigation filing and related press release.
• This filing does not show why the insider traded or why the company acted.