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HRBR.US
id: 1212

Harbor Diversified (HRBR) Incorrect Financial Reports Case

E.D. Wisconsin
Court
1:24-cv-00556
Case number
05/10/2022
Class period Start
03/29/2024
Class period End
07/08/2024
Lead Plaintiff motion deadline
$HRBR stockholder filed a claim vs Harbor Diversified for issuing inaccurate financial statements.

On March 29, 2024, $HRBR fell 14.3% losing $12.5M+ of shareholder value.

Harbor Diversified, Inc. is a non-operating holding company with consolidated subsidiaries, including AWAC Aviation, Inc., which is the sole member of Air Wisconsin Airlines LLC. Harbor is also the direct parent of other subsidiaries related to Air Wisconsin operations.

The lawsuit accuses Harbor of issuing inaccurate financial statements because of incorrect revenue recognition, and not having proper internal controls in place.

Considering all the representations, investors have reasons to suspect Harbor Diversified of failing to disclose accurate financial information.

One of the investors has already filed a class action against the Company in the Eastern District of Wisconsin court for issuing inaccurate financial statements.
Case Status
Motion to dismiss
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
03/29/2024
Filing date
05/07/2024
Lead Plaintiff Deadline
07/08/2024
Judge
Hon. William C. Griesbach
Collecting participants…

Harbor Diversified

Harbor Diversified, Inc. provides regional air services in the United States. The company leases flight equipment; and provides flight equipment financing. As of December 31, 2023, it owned and ope...

    Ticker
    HRBR.US
    ISIN
    US41150R1023
    CIK
    899394
    Sector
    Industrials
    Industry
    Airlines
    Country
    USA
    Address
    W6390 Challenger Drive, Appleton, WI, United States, 54914-9120