Deadline on October 26th coming up in Lawsuit for Investors in HyreCar Inc. (NASDAQ: HYRE)

A deadline is coming up on October 26, 2021 in the lawsuit filed for certain investors of HyreCar Inc. (NASDAQ: HYRE) over alleged securities laws violations by HyreCar Inc.

Investors who purchased shares of HyreCar Inc. (NASDAQ: HYRE) have certain options and there are strict and short deadlines running. Deadline: October 26, 2021. NASDAQ: HYRE stockholders should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.

According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of purchasers of HyreCar Inc. (NASDAQ: HYRE) common shares between May 14, 2021 and August 10, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 14, 2021 and August 10, 2021, the defendants made false and misleading statements and failed to disclose that HyreCar had materially understated its insurance reserves, that HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period, that HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims incurred from prior periods, that HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result, that HyreCar had been forced to dramatically reform its claims underwriting, policies, and procedures in response to unacceptably high claims severity and customer complaints, and that as a result, HyreCar’s operations and prospects were misrepresented because HyreCar was not on track to meet the financial estimates provided to investors during the Class Period, and such estimates lacked a reasonable basis in fact, including HyreCar’s purported gross margin, earnings before interest, taxes, depreciation, and amortization (“EBITDA”), and net loss trajectories.

Those who purchased shares of HyreCar Inc. (NASDAQ: HYRE) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: [email protected]

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

 

 

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