HYRE Investors Have Opportunity to Lead HyreCar Inc. Securities Fraud Lawsuit

Published: Oct. 4, 2021 at 11:00 AM CDT|Updated: Oct. 15, 2021 at 12:00 PM CDT

LOS ANGELES, Oct. 15, 2021 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against HyreCar Inc. (NASDAQ: HYRE)

(PRNewsfoto/Glancy Prongay & Murray LLP)
(PRNewsfoto/Glancy Prongay & Murray LLP)

Class Period: May 14, 2021 and August 10, 2021
Lead Plaintiff Deadline: October 26, 2021

If you wish to serve as lead plaintiff of the HyreCar lawsuit, you can submit your contact information at https://www.glancylaw.com/cases/hyrecar-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

The complaint filed in this class action alleges that throughout the Class Period, Defendants failed to disclose to investors that: (1) HyreCar had materially understated its insurance reserves; (2) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (3) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims incurred from prior periods; (4) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; (5) HyreCar had been forced to dramatically reform its claims underwriting, policies, and procedures in response to unacceptably high claims severity and customer complaints; and (6) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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