| COMPANY |
Harbor Diversified, Inc. |
| COURT |
United States District Court for the Eastern District of Wisconsin |
| CASE NUMBER |
24-cv-00556 |
| JUDGE |
The Hon. William C. Griesbach |
| CLASS PERIOD |
May 10, 2022 through March 29, 2024 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS JULY 8, 2024.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
A class action lawsuit has been filed on behalf of those who purchased or acquired Harbor Diversified, Inc. (“Harbor Diversified”) (OTC: HRBR) securities between May 10, 2022 and March 29, 2024, both dates inclusive (the “Class Period”).
On March 29, 2024, Harbor Diversified disclosed that its previously issued financial statements as of December 2022 should no longer be relied upon due to misstatements related to the accounting for certain revenue under the capacity purchase agreement previously entered into between Air Wisconsin Airlines LLC, a wholly owned subsidiary of the company, and United Airlines, Inc.
On this news, Harbor Diversified’s stock price fell $0.29, or 14.3%, to close at $1.73 per share on April 1, 2024
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Harbor Diversified’s financial statements from May 9, 2022 to the present were misstated due to improper revenue recognition; (2) Harbor Diversified lacked adequate internal controls; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.