Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Harbor Diversified, Inc. (HRBR)

/EIN News/ -- NEW YORK, May 09, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of Wisconsin on behalf of all persons and entities who purchased securities of Harbor Diversified, Inc. (“Harbor Diversified” or the “Company”) (OTC: HRBR) between May 10, 2022 and March 29, 2024, inclusive (the “Class Period”).

The Complaint alleges that Defendants failed to disclose that: (i) Harbor Diversified’s financial statements from May 9, 2022 to the present were misstated due to improper revenue recognition, and (ii) 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.

Investors who purchased or otherwise acquired shares of Harbor Diversified should contact the Firm prior to the July 8, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.