SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of HyreCar Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of October 26, 2021 - (HYRE)

New York, New York--(Newsfile Corp. - September 24, 2021) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of HyreCar Inc. (NASDAQ: HYRE).

Shareholders who purchased shares of HYRE during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/hyrecar-inc-loss-submission-form/?id=19834&from=5

CLASS PERIOD : May 14, 2021 to August 10, 2021

ALLEGATIONS : The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) HyreCar had materially understated its insurance reserves; (b) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (c) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims incurred from prior periods; (d) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; (e) HyreCar had been forced to dramatically reform its claims underwriting, policies and procedures in response to unacceptably high claims severity and customer complaints; and (f) as a result, HyreCar's operations and prospects were misrepresented because the Company was not on track to meet the financial estimates provided to investors during the Class Period, and such estimates lacked a reasonable basis in fact, including HyreCar's purported gross margin, EBITDA (earnings before interest, taxes, depreciation, and amortization), and net loss trajectories.

DEADLINE: October 26, 2021 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/hyrecar-inc-loss-submission-form/?id=19834&from=5

NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of HYRE during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 26, 2021. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97528