HyreCar, Inc.

Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.

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There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.

We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.

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Portnoy Law Firm
Lesley F. Portnoy, Esq.,
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067

It is alleged in this lawsuit that HyreCar throughout the Class Period made misleading and/or false statements and/or failed to disclose that: (1) HyreCar’s insurance reserves were materially understated; (2) Prior to the Class Period, HyreCar had systematically failed to pay valid insurance claims that were incurred; (3) HyreCar had incurred significant expenses in its transition to its new third-party insurance claims administrator and processing claims incurred from prior periods; (4) HyreCar had failed to price risk in its insurance products appropriately and as a result was experiencing elevated claims incidence; (5) In response to unacceptably high claims severity and customer complaints, HyreCar had been forced to dramatically reform its claims underwriting, policies and procedures; and (6) HyreCar’s prospects and operations were misrepresented because the company was not on track to meet its financial estimates provided to investors during the Class Period,  such estimates lacking a reasonable basis in fact, including HyreCar’s purported gross margin, EBITDA and net loss trajectories, as a result of the foregoing. The lawsuit claims that investors suffered damages, when the true details entered the market.