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HRT.US
id: 1174

HireRight Holdings Corporation (HRT) False IPO Statements Case

M.D. Tennessee
Court
3:24-cv-00371
Case number
29 Oct 2021
Class period Start
04 Feb 2024
Class period End
03 Jun 2024
Lead Plaintiff motion deadline
  • On April 1, 2021 securities class action has been filed against HireRight Holdings (HRT) on behalf of October 2021 IPO investors.
  • Since December 2021, $HRT has been trading below its $19.00 IPO price, losing significant shareholder value.
  • Investors may have grounds to suspect HireRight of distorting information in its Offering Documents, which led to their losses.
On October 6, 2021, HireRight filed a registration statement, and on November 1, 2021, filed a prospectus with the SEC in connection with the IPO. That same day, pursuant to the Offering Documents, HireRight's common stock began publicly trading on the NYSE (ticker symbol HRT).
The lawsuit states that HireRight distorted or concealed that
  • The company was exposed to high-risk customers, and that revenue from existing clients grew faster than from new clients
  • as a result, HireRight's revenue growth was at risk
  • accordingly, HireRight had overstated its prospects; and (4)
  • as a result, Company’s statements about the company's business, operations, and prospects were materially false and misleading.
Considering all the information, investors might have grounds to suspect HireRight of making untrue statements in its IPO , which led to their losses.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
03 April 2024
Filing date
01 April 2024
Lead Plaintiff Deadline
03 June 2024
Judge
Waverly D. Crenshaw, Jr.
Collecting participants…

HireRight Holdings Corp

HireRight Holdings Corporation provides technology-driven workforce risk management and compliance solutions worldwide. It offers background screening, verification, identification, monitoring, and...

    Ticker
    HRT.US
    ISIN
    US4335371070
    CIK
    1859285
    Sector
    Industrials
    Industry
    Staffing & Employment Services
    Country
    USA
    Address
    100 Centerview Drive, Nashville, TN, United States, 37214