Thursday, 18 April 2024

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Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against HireRight Holdings Corporation and Encourages Investors to Contact the Firm By

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NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against HireRight Holdings Corporation (HireRight or the Company) (NYSE: HRT) in the United States District Court for the Middle District of Tennessee on behalf of all persons and entities who purchased or otherwise acquired HireRight securities pursuant and/or traceable to the Offering Documents issued in connection with HireRight’s October 2021 initial public offering (the IPO or Offering), both dates inclusive (the Class Period). Investors have until June 3, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

HireRight provides technology-driven workforce risk management and compliance solutions to a customer base characterized as a diverse set of organizations, from large-scale multinational businesses to small and medium-sized businesses, across a broad range of industries. The Company offers background screening, verification, identification, monitoring, and drug and health screening services for customers under the HireRight brand name and boasts a purportedly robust pipeline of opportunities developed by [its] sales team to continue to attract new customers and take share in the market.  

On October 6, 2021, HireRight filed a registration statement on Form S-1 with the SEC in connection with the IPO, which, after an amendment, was declared effective by the SEC on October 28, 2021 (the Registration Statement).  

On November 1, 2021, HireRight filed a prospectus on Form 424B4 with the SEC in connection with the IPO, which incorporated and formed part of the Registration Statement (the Prospectus and, collectively with the Registration Statement, the Offering Documents).  

That same day, pursuant to the Offering Documents, HireRight’s common stock began publicly trading on the New York Stock Exchange (NYSE) under the ticker symbol HRT.  

Pursuant to the Offering Documents, HireRight issued approximately 22. million shares of its common stock to the public at the Offering price of $19.00 per share for proceeds to the Company of approximately $399 million after applicable underwriting discounts and commissions, and before expenses.  

According to the complaint, the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts…

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