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Investors Alert: Rosen Law Firm Announces June Deadline for HireRight Holdings Corporation Class Action

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Michael Chen

May 14, 2024 - 00:45 am

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Rosen Law Firm Issues a Call to HireRight Holdings Corporation Investors to Act Before Lead Plaintiff Deadline

NEW YORK, May 13, 2024 /PRNewswire/ -- The Rosen Law Firm, a globally recognized investor rights law firm, has issued an important reminder to all individuals and institutions that acquired securities of HireRight Holdings Corporation (NYSE: HRT). The notice pertains to those investments made in accordance with the registration statement and prospectus—the Offering Documents—issued during HireRight's initial public offering in October 2021. There is a significant approaching lead plaintiff deadline set for June 3, 2024, that must not be overlooked by shareholders.

Opportunity for Compensation

For those who have purchased securities from HireRight Holdings Corporation, there may be a possibility of receiving compensation. Importantly, this can occur without the need for shareholders to pay any out-of-pocket fees or costs, thanks to a contingency fee arrangement. This presents an opportunity for investors who have been negatively impacted to potentially recover their losses without additional financial burden.

Next Steps for Affected Investors

Those who are considering joining the HireRight class action lawsuit are urged to take prompt action. Interested parties can find more information and submit their case by visiting Rosen Legal's submission form or by directly contacting Phillip Kim, Esq., who is available toll-free at 866-767-3653 or via email at [email protected] As the litigation is already underway, it's critical for potential lead plaintiffs to move the court by no later than June 3, 2024, to fulfill their intent to act as a representative on behalf of other class members.

Why Choose Rosen Law Firm?

It's important for investors to be selective when choosing legal representation, as not all firms offer equivalent levels of expertise, recognition, or resources. Strikingly, some firms which disseminate notices do not directly litigate securities class actions; rather, they act as intermediaries that may refer clients or collaborate with other law firms which actually carry out the litigation. The Rosen Law Firm sets itself apart by representing investors globally, with a primary focus on securities class actions and shareholder derivative litigation. The firm touts a reputable track record including securing the largest ever securities class action settlement against a Chinese company. Impressively, the firm was ranked No. 1 by ISS Securities Class Action Services in 2017 for the number of settlements and has consistently remained in the top tier ever since 2013. In 2019, they attained over $438 million for investors, demonstrating their commitment to achieving significant recoveries for their clients. Furthermore, in 2020, founding partner, Laurence Rosen, was distinguished by law360 as a Titan of Plaintiffs' Bar, further underscoring the firm's prominent stature in the realm of legal advocacy for investors.

The Substance of the Lawsuit

The class action alleges that the Offering Documents contained false and/or misleading statements and omitted critical details:

  1. HireRight purportedly experienced significant exposure to customers within industries marred by substantial employment volatility, and the company's revenue growth was more heavily dependent on hiring activities of existing clients than on acquiring new ones.
  2. Accordingly, the sustainability of HireRight's revenue growth was questionable due to its reliance on the relatively stable hiring practices of its current customer base and the unpredictable profitability of securing new clients.
  3. The suit claims that HireRight thus overstated its business feasibility and future growth projections in the post-IPO phase.
  4. Consequently, as the lawsuit posits, the statements concerning HireRight's business operations and forecasts were materially false and misleading or, at the very least, not based on reasonable grounds during the relevant times. These misrepresentations, the lawsuit alleges, led to damages incurred by investors when the true state of affairs came to light.

Investors who heed the call to participate in the HireRight class action should visit the same Rosen Legal's submission form listed earlier or contact the same representatives for additional details.

Class Certification and Representation

It is paramount for class members to understand that until a class is certified, there is no official counsel representing them unless they elect to hire one. Investors retain the right to appoint an attorney of their choosing, just as they have the option to remain an unrepresented, absent class member at this juncture. One's eligibility to share in any potential future recovery isn't contingent upon serving as the lead plaintiff.

Stay Informed with Rosen Law Firm

To remain apprised of the latest developments in this case and other securities class actions, follow The Rosen Law Firm across their social media accounts on LinkedIn, Twitter, and Facebook.

This is attorney advertising. While past outcomes do not guarantee similar future results, The Rosen Law Firm's history of success adds a layer of confidence for those they represent.

Should you require further assistance or have questions pertaining to this news, contact the representatives at The Rosen Law Firm:

  • Laurence Rosen, Esq.
  • Phillip Kim, Esq.
  • The Rosen Law Firm, P.A.
  • 275 Madison Avenue, 40th Floor
  • New York, NY 10016
  • Tel: (212) 686-1060 | Toll-Free: (866) 767-3653
  • Fax: (212) 202-3827
  • Email: [email protected]
  • Website: www.rosenlegal.com

The press is informed that SOURCE THE ROSEN LAW FIRM, P. A. is responsible for the content published in this notice.