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

January 03, 2023

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.

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