The Gross Law Firm Announces Class Actions on Behalf of Shareholders of YALA, KPLT and HYRE
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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of YALA, KPLT and HYRE

Friday, September 10, 2021 11:30 AM
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Lawsuits

NEW YORK, NY / ACCESSWIRE / September 10, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Yalla Group Limited (NYSE:YALA)

Investors Affected : September 30, 2020 - August 9, 2021

A class action has commenced on behalf of certain shareholders in Yalla Group Limited. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: the Company overstated its user metrics and revenue and, as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/yalla-group-limited-loss-submission-form/?id=19479&from=1

Katapult Holdings, Inc. (NASDAQ:KPLT)

Investors Affected : December 18, 2020 - August 10, 2021

A class action has commenced on behalf of certain shareholders in Katapult Holdings, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Katapult was experiencing declining e-commerce retail sales and consumer spending, (2) despite Katapult's assertions that it was clear and compelling value proposition to both consumers and merchants, transforming the way nonprime consumers shop for essential goods and enabling merchant access to this underserved segment, Katapult lacked visibility into its consumers' future buying behavior; and (3) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/katapult-holdings-inc-loss-submission-form/?id=19479&from=1

HyreCar Inc. (NASDAQ:HYRE)

Investors Affected : May 14, 2021 - August 10, 2021

A class action has commenced on behalf of certain shareholders in HyreCar Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) HyreCar had materially understated its insurance reserves; (b) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (c) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims incurred from prior periods; (d) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; (e) HyreCar had been forced to dramatically reform its claims underwriting, policies and procedures in response to unacceptably high claims severity and customer complaints; and (f) as a result, HyreCar's operations and prospects were misrepresented because the Company was not on track to meet the financial estimates provided to investors during the Class Period, and such estimates lacked a reasonable basis in fact, including HyreCar's purported gross margin, EBITDA (earnings before interest, taxes, depreciation, and amortization), and net loss trajectories.

Shareholders may find more information at https://securitiesclasslaw.com/securities/hyrecar-inc-loss-submission-form/?id=19479&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm
 

The Gross Law Firm
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