Root shares fall 4% on internal probe on $9.5mn vendor payment
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

Root shares fall 4% on internal probe on $9.5mn vendor payment

Kyoung-son Song
January 03, 2023
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Root insurance Nasdaq.jpg

Root’s shares closed down 4% on Tuesday following the firm’s disclosure it had launched an internal investigation into a $9.5mn vendor payment that was made by a former senior employee in 2022.

The stock was trading down over 5% at $4.24 per share midday Eastern time on Tuesday. The shares finally closed down 4% at $4.31.

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News Root
kyoung-son song ii us.png
Kyoung-son Song
Senior Reporter
Contact
Gift this article