Robbins LLP is Investigating the Allegations that Harbor Diversified, Inc. (HRBR) Misled Investors Regarding its Business Prospects
Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Harbor Diversified, Inc. (OTC: HRBR) securities between May 10, 2022 and March 29, 2024. Harbor Diversified, together with its subsidiaries, provides air transportation services in the United States.
The Allegations
According to the complaint, during the class period, defendants failed to disclose that: (1) Harbor Diversified’s financial statements from May 9, 2022 to the present were misstated due to improper revenue recognition, and (2) Harbor Diversified lacked adequate internal controls. The complaint alleges that on March 29, 2024, the Company filed a report with the SEC announcing that certain of its previously-issued financial statements would need to be restated as a result of improper revenue recognition. On this news, the price of Harbor Diversified stock fell by $0.28 per share, or 14.25%, to close at $1.73 on April 1, 2024.
What Now: You may be eligible to participate in the class action against Harbor Diversified, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 8, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.