SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies HyreCar Inc. Shareholders of Class Action and Lead Plaintiff Deadline of October 26, 2021
New York, New York – (Newsfile Corp. – September 1, 2021) – The following statement is released by Levi & Korsinsky, LLP:
To: All persons or entities who have purchased or otherwise acquired securities of HyreCar Inc. (“HyreCar”) (NASDAQ: HYRE) between May 14, 2021 and August 10, 2021. You are hereby notified that a securities class action lawsuit has been brought in the United States District Court for the Central District of California. For more information, visit:
or contact Joseph E. Levi, Esq. either by email at [email protected] or by phone at (212) 363-7500. There is no cost or obligation for you.
HyreCar Inc. NEWS – HYRE NEWS
CASE DETAILS: According to the complaint filed: (a) HyreCar had substantially underestimated its insurance reserves; (b) HyreCar consistently failed to pay valid insurance claims incurred prior to the Class Period; (c) HyreCar had incurred significant expenses in transitioning to its new insurance claims administrator and handling claims incurred in previous periods; (d) HyreCar had not correctly priced the risk in its insurance products and consequently suffered a high incidence of claims; (e) HyreCar had been forced to radically reform its underwriting, policies and complaints procedures in response to an unacceptable severity of claims and customer complaints; and (f) as a result, HyreCar’s operations and outlook have been distorted because the Company was not on track to meet the financial estimates provided to investors during the Class Period, and those estimates were not no reasonable basis in fact, including alleged HyreCar gross margin, EBITDA (earnings before interest, taxes, depreciation and amortization) and net loss trajectories.
WHAT THIS MEANS FOR SHAREHOLDERS: If you have suffered a loss in HyreCar, you have up to October 26, 2021 request that the Court appoint you as the principal applicant. Your ability to participate in any recovery does not require you to serve as the principal applicant.
NO COT FOR YOU: If you purchased HyreCar securities between May 14, 2021 and August 10, 2021, you may be entitled to compensation without payment of any fees or out-of-pocket expenses.
PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/hyrecar-inc-loss-submission-form?prid=19274&wire=5 or call 212-363-7500 to discuss the case with Joseph E Levi, Esq.
WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars to shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by companies.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut and Washington, DC The firm’s founding partners, Joseph Levi and Eduard Korsinsky, have represented shareholders and institutional clients since nearly 20 years and have achieved remarkable results for clients in the United States and abroad. The firm, which has more than 80 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those we represent. Our lawyers have extensive expertise in representing investors in securities litigation with a history of recovering hundreds of millions of dollars in cases. Levi & Korsinsky has been ranked in the Institutional Shareholder Services (“ISS”) SCAS Top 50 Report for 7 consecutive years as one of the top securities litigation firms in the United States. The SCAS Top 50 report identifies the leading plaintiff securities law firms in the country, and year after year ISS has recognized Levi & Korsinsky as a leading firm in the field of securities class actions.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th floor
New York, New York 10006
Phone. : (212) 363-7500
Fax: (212) 363-7171
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/95271