HireRight Holdings Corporation (HRT) False IPO Statements Case

• On April 1, 2021 securities class action has been filed against HireRight Holdings (HRT) on behalf of October 2021 IPO investors.

• Since December 2021, $HRT has been trading below its $19.00 IPO price, losing significant shareholder value.

• Investors may have grounds to suspect HireRight of distorting information in its Offering Documents, which led to their losses.

On October 6, 2021, HireRight filed a registration statement, and on November 1, 2021, filed a prospectus with the SEC in connection with the IPO. That same day, pursuant to the Offering Documents, HireRight's common stock began publicly trading on the NYSE (ticker symbol HRT).

The lawsuit states that HireRight distorted or concealed that

• The company was exposed to high-risk customers, and that revenue from existing clients grew faster than from new clients

• as a result, HireRight's revenue growth was at risk

• accordingly, HireRight had overstated its prospects; and (4)

• as a result, Company’s statements about the company's business, operations, and prospects were materially false and misleading.

Considering all the information, investors might have grounds to suspect HireRight of making untrue statements in its IPO , which led to their losses.