HYRE Investor Alert: Shareholder Class Action Lawsuit Filed

·2 min read

Boston, Massachusetts--(Newsfile Corp. - September 22, 2021) - The Thornton Law Firm alerts investors who purchased HyreCar Inc. securities (NASDAQ: HYRE) between May 14, 2021 and August 10, 2021 may seek to participate in the case as a Lead Plaintiff. Interested investors may contact the Thornton Law Firm's investor protection team by visiting www.tenlaw.com/cases/HyreCar for more information. Investors may also email investors@tenlaw.com or call 617-531-3917. A class action lawsuit has been filed on behalf of investors of HYRE. Investors do not need to be the Lead Plaintiff to recover as class members if the case is successful.

FOR MORE INFORMATION: www.tenlaw.com/cases/HyreCar

The case alleges that HyreCar and its senior executives made misleading statements to investors and failed to disclose that: (i) HyreCar had materially understated its insurance reserves; (ii) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (iii) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims incurred from prior periods; (iv) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; and (v) HyreCar had been forced to dramatically reform its claims underwriting, policies, and procedures in response to unacceptably high claims severity and customer complaints.

Interested HyreCar investors have until October 26, 2021 to retain counsel and apply to be a lead plaintiff if they are interested to do so. A lead plaintiff acts on behalf of all other investor class members in managing the class action. Investors do not need to be a lead plaintiff in order to be a class member. If investors choose to take no action, they can remain an absent class member. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney. Thornton Law Firm is not currently representing a plaintiff who filed a complaint but is investigating the case on behalf of investors interested in being a lead plaintiff.

FOR MORE INFORMATION: www.tenlaw.com/cases/HyreCar

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

CONTACT:
Thornton Law Firm LLP
1 Lincoln Street
State Street Financial Center
Boston, MA 02111
www.tenlaw.com/cases/HyreCar

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97065

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