Harbor Diversified (HRBR) Incorrect Financial Reports Case

The case has been dismissed, typically without any further action.

E.D. Wisconsin

Court

1:24-cv-00556

Case number

05/10/2022

Class period Start

03/29/2024

Class period End

07/08/2024

Lead Plaintiff motion deadline

$HRBR stockholder filed a claim vs Harbor Diversified for issuing inaccurate financial statements. 

On March 29, 2024, $HRBR fell 14.3% losing $12.5M+ of shareholder value.

Harbor Diversified, Inc. is a non-operating holding company with consolidated subsidiaries, including AWAC Aviation, Inc., which is the sole member of Air Wisconsin Airlines LLC. Harbor is also the direct parent of other subsidiaries related to Air Wisconsin operations.

The lawsuit accuses Harbor of issuing inaccurate financial statements because of incorrect revenue recognition, and not having proper internal controls in place.

Considering all the representations, investors have reasons to suspect Harbor Diversified of failing to disclose accurate financial information.

One of the investors has already filed a class action against the Company in the Eastern District of Wisconsin court for issuing inaccurate financial statements.

Case Type

US Securities Class Action

Case Status

Dismissed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

03/29/2024

Filing date

05/07/2024

Lead Plaintiff Deadline

07/08/2024

Judge

Hon. William C. Griesbach