New York, New York--(Newsfile Corp. - October 12, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of HyreCar Inc. (NASDAQ: HYRE) alleging that the Company violated federal securities laws.
Class Period: May 14, 2021 and August 10, 2021
Lead Plaintiff Deadline: October 26, 2021
No obligation or cost to you.
Learn more about your recoverable losses in HYRE:
HyreCar Inc. NEWS - HYRE NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that HyreCar Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) HyreCar had materially understated its insurance reserves; (b) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (c) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims incurred from prior periods; (d) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; (e) HyreCar had been forced to dramatically reform its claims underwriting, policies and procedures in response to unacceptably high claims severity and customer complaints; and (f) as a result, HyreCar's operations and prospects were misrepresented because the Company 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, EBITDA (earnings before interest, taxes, depreciation, and amortization), and net loss trajectories.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in HyreCar you have until October 26, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased HyreCar securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99471