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A private equity vehicle led by Roadrunner Freight CEO Chris Jamroz bought a majority ownership stake in the less-than-truckload carrier from Elliott Investment Management.

Roadrunner is now offering free less-than-truckload freight delivery if the shipment does not arrive on the promised date, it said.

A federal judge ordered Peter Armbruster, former chief financial officer of Roadrunner Transportation Systems Inc., to pay $1.1 million in restitution in connection with a sophisticated account fraud scheme.

A federal jury has convicted the former chief financial officer of Roadrunner Transportation Systems Inc. on four counts of violating federal securities laws for his role in a complex securities and accounting fraud.

Roadrunner Transportation Systems said it consists solely of its less-than-truckload operations, having finished its multiyear restructuring plan earlier this year.

Roadrunner Transportation Systems was in the final steps in a multiyear financial turnaround effort when the coronavirus pandemic hit, forcing the company to confront the same economic challenges facing all of trucking while also seeing its plans through, a company executive said.

Roadrunner Transportation Systems Inc. reported a net loss in the fourth quarter and sharply lower revenue amid challenging market conditions.

Roadrunner Transportation Systems Inc. will sell its Prime Distribution Services business to C.H. Robinson Worldwide Inc. for $225 million in cash, according to a Jan. 28 news release.

Roadrunner Transportation Systems Inc. President and Chief Operating Officer Michael Gettle is leaving the company, the less-than-truckload and truckload carrier announced Dec. 11.

Roadrunner Transportation Systems Inc. announced the sale of its flatbed business unit for $30 million in cash, subject to customary purchase price and working capital adjustments.