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Rekor sues former director Viraj Mehta over fiduciary breaches in Dec 2025 financing
REKRRekor Systems, Inc.
Rekor Systems filed a complaint in Delaware Court of Chancery against former director Viraj Mehta, alleging breach of fiduciary duty regarding the company's December 2025 emergency financing. The suit claims Mehta concealed his fund Arctis Global LLC's plan to distribute its entire Rekor position while retaining secured debt, and falsely assured the board that the new investor would not sell shares. Rekor seeks compensatory damages, disgorgement of director compensation, and restitution. The company operates in roadway intelligence solutions.