Equipmentshare.com Inc. Class Action Lawsuit - EQPT

Company: Equipmentshare.com Inc.

Ticker: (NASDAQ) EQPT

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Lead Plaintiff Deadline: September 21, 2026

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1. I have reviewed a complaint filed in the action.

2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4. My transaction(s) in Equipmentshare.com Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5. Within the last 3 years,



6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Equipmentshare.com Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Class Definition

This lawsuit is on behalf of persons and entities that purchased or otherwise acquired EquipmentShare: (a) Class A common stock pursuant and/or traceable to the registration statement and prospectus collectively issued in connection with the Company’s January, 2026, initial public offering; and/or (b) securities between January 23, 2026 and June 23, 2026, inclusive.

Allegations

The filed complaint alleges that Equipmentshare.com Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company participated in additional undisclosed related party transactions; (2) the Company had not terminated or substantially reduce a number of the transactions with entities owned or controlled by the co-founders; (3) as a result, the Company’s financial statements were materially misleading; and (4) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Eligibility

In order to be eligible to join the EQPT class action lawsuit, you must have incurred a loss on shares of Equipmentshare.com Inc. purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Equipmentshare.com Inc. during the relevant time frame or pursuant to the relevant offering(s), you have until September 21, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Equipmentshare.com Inc.Class Action Lawsuit Details

Key Facts About EquipmentShare.com Inc. (NASDAQ: EQPT)

●       The Allegation: The complaint alleges EquipmentShare misled investors about related party transactions tied to its OWN Program, while publicly claiming it had disclosed the relevant transactions and expected to terminate or substantially reduce a number of transactions with entities owned or controlled by its co-founders.

●       The Stock Drop: EQPT fell $2.61, or 11.7%, to close at $19.69 per share on June 25, 2026, after continued market reaction to the Umibozu Research report; EQPT fell $1.58, or 6.62%, to close at $22.30 per share on June 24, 2026, after the report alleged undisclosed related party transactions involving EZ Equipment Zone, Bevel Financial, Armada Fleet Management, and Schlacks-affiliated entities.

●       Class Period & Defendants: The class period runs from January 23, 2026 through June 23, 2026, inclusive. Defendants include EquipmentShare.com Inc., Jabbok Schlacks, Chief Executive Officer, Co-Founder, and Director, David Marquardt, Chief Financial Officer and Chief Accounting Officer, William Schlacks, Co-Founder, President, and Director, directors Naveen Bhatia, Jennifer Giacomazza, William Bryan Hill, John Weinstein, and Henry Yeagley, and the IPO underwriters named in the complaint.

●       Lead Plaintiff Deadline: September 21, 2026.  Investors who wish to seek appointment as lead plaintiff must apply by the deadline. No action is required before the deadline to remain part of the proposed class.

EquipmentShare.com Class Action Summary

Company

EquipmentShare.com Inc. (NASDAQ: EQPT)

Lead Plaintiff Deadline

September 21, 2026

Class Period

January 23, 2026 - June 23, 2026

Stock Drop

June 24, 2026 - EQPT fell $1.58 (6.62%) to $22.30; June 25, 2026 - EQPT fell $2.61 (11.7%) to $19.69

Introduction

A securities class action lawsuit has been filed against EquipmentShare.com Inc. in the Southern District of New York. The case concerns the company's January 2026 IPO and securities purchased from January 23, 2026 through June 23, 2026.

The complaint alleges defendants made materially false and misleading statements about related party transactions. Investors were told key transactions were disclosed, and that some founder-linked dealings would be reduced.

A June 24, 2026 report alleged undisclosed related party transactions involving Schlacks-affiliated entities. EQPT fell over two trading days, and the stock later traded as low as $16.06 per share.

Company Profile

EquipmentShare operates an integrated cloud-based platform called T3, used for equipment rental and managing construction equipment. At the time of its IPO, the company also operated the OWN Program, under which third party participants could purchase equipment and place it on T3 for rental revenue sharing.

Class Period

January 23, 2026 – June 23, 2026

Investors who purchased EquipmentShare.com Inc. securities during the Class Period may be eligible to seek recovery under federal securities laws.

Allegations

The complaint challenges both EquipmentShare's IPO disclosures and later public statements during the trading period. EquipmentShare sold 30.5 million shares of Class A common stock at $24.50 per share in its IPO and received net proceeds of approximately $706 million. The Registration Statement described the company's OWN Program and disclosed transactions with entities owned or controlled by co-founders Jabbok Schlacks and William Schlacks.

According to the complaint, the Registration Statement represented that, other than the disclosed transactions, there were no related party transactions meeting the stated criteria. It also said that before the offering EquipmentShare expected to terminate or substantially reduce a number of transactions with entities owned or controlled by the co-founders. The lawsuit alleges those statements were materially false and misleading because the company participated in additional undisclosed related party transactions and had not terminated or substantially reduced a number of founder-linked transactions.

The complaint also cites statements after the IPO, including a March 18, 2026 press release, the company's March 19, 2026 Form 10-K for fiscal 2025, a May 13, 2026 press release, and the May 14, 2026 Form 10-Q for the first quarter of 2026. Those statements reported financial results and related party transaction figures, including revenue, accounts receivable, lease liabilities, finance lease liabilities, equipment sales, OWN Program payouts, and other income tied to related parties.

Plaintiffs allege defendants failed to disclose material adverse facts about EquipmentShare's business, operations, and prospects. Specifically, the complaint alleges defendants failed to disclose that the company participated in additional undisclosed related party transactions, had not terminated or substantially reduced certain transactions with entities owned or controlled by the co-founders, and that its financial statements were materially misleading. As a result, the complaint alleges defendants' positive statements lacked a reasonable basis.

The Truth Emerges

Before the market opened on June 24, 2026, Umibozu Research published a report alleging that undisclosed related party transactions had netted entities affiliated with EquipmentShare's founders at least $77 million, with the true figure potentially substantially higher. The report alleged that the company maintained a high-net-worth individuals and family-office channel built around three undisclosed entities: EZ Equipment Zone, Bevel Financial, and Armada Fleet Management.

The report described the OWN Program as central to the alleged related party arrangement. It claimed EquipmentShare used OWN to funnel fees and other payments to related parties, and it identified a web of 130 Schlacks-affiliated entities that allegedly enabled self-dealing. The report estimated that Bevel had collected at least $24 million in origination fees from EZ assets alone and that Armada had generated at least $18 million in fees.

According to the complaint, the report contradicted EquipmentShare's IPO narrative that founder participation in OWN was being wound down. The report also questioned EquipmentShare's first quarter 2026 disclosure that there were no equipment sales to entities owned or controlled by the founders during the period.

Market Reaction

Following the June 24, 2026 Umibozu Research report, EquipmentShare's stock fell $1.58, or 6.62%, to close at $22.30 per share on unusually heavy trading volume. The decline continued on June 25, 2026, when EQPT fell $2.61, or 11.7%, to close at $19.69 per share, also on unusually heavy trading volume.

By the commencement of the action, EquipmentShare stock had traded as low as $16.06 per share. The complaint states that this was a more than 34.5% decline from the $24.50 per share IPO price.

Next Steps

●       Lead Plaintiff Deadline: September 21, 2026

●       After the lead plaintiff deadline, the Court will consider any lead plaintiff motions.

●       Defendants may file a motion to dismiss.

●       If the case proceeds, the Court may later consider class certification.

Disclaimer: This shareholder alert is for informational purposes only and does not constitute legal advice. Consult a qualified attorney for personalized guidance. Prior results do not guarantee similar outcomes.