Securities,
Civil Litigation
Aug. 30, 2021
Class action claims HyreCar executives mislead investors
The putative class alleges company execs took part in a fraudulent scheme to inflate stock prices.
Rising insurance costs for drivers and renters that exceeded reserves caused shares of the car-sharing platform HyreCar Inc. to plummet nearly 50%, contends a securities class action filed Friday.
"[D]efendants made false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of HyreCar securities and operated as a fraud or deceit on Class Period purchasers of Hy...
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