| COMPANY |
HireRight Holdings Corporation |
| COURT |
United States District Court for the Middle District of Tennessee |
| CASE NUMBER |
1:24-cv-00371 |
| JUDGE |
The Hon. Waverly D. Crenshaw, Jr. |
| CLASS PERIOD |
Purchased in or Traceable to October 2021 IPO |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a class action lawsuit d on behalf of those who purchased or acquired HireRight Holdings Corporation (“HireRight”) (NYSE: HRT) pursuant and/or traceable to the registration statement and prospectus issued in connection with HireRight’s October 2021 IPO.
The Complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation.
Specifically, the complaint alleges the Offering Documents made false and/or misleading statements and/or failed to disclose that: (1) HireRight was exposed to customers with significant employment and hiring risk and the company derived greater revenue growth from existing client hiring than from new client hiring; (2) as a result, HireRight's revenue growth was unsustainable to the extent that it relied on the stability of its current customers' hiring and/or the profitability of securing new customers; (3) accordingly, HireRight had overstated its post-IPO business and/or prospects; and (4) as a result, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant time
Current Status of Case:
On July 11, 2024, the Court entered an order granting Motion to Appoint Lead Plaintiff and Approve Lead Counsel. The action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.