Lead Plaintiff Deadline: October 26, 2021
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(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.
In order to be included in the lawsuit, you must have incurred a loss on shares of HyreCar, either: A) purchased or acquired during the class period listed above, if applicable; or B) pursuant to the Initial Public Offering (IPO) of HyreCar, if applicable.
If you suffered a loss in HyreCar during the relevant time frame, or pursuant to HyreCar’s IPO if listed above, you have until October 26, 2021 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.