HireRight Holdings Corporation (NYSE: HRT) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired HireRight Holdings Corporation (“HireRight”) (NYSE: HRT) common stock pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Offering Documents”), issued in connection with HireRight’s initial public offering (“IPO”) on or around October 2021.

The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation. Specifically, the complaint alleges the Offering Documents made false and/or misleading statements and/or failed to disclose that: (1) HireRight was exposed to customers with significant employment and hiring risk and the company derived greater revenue growth from existing client hiring than from new client hiring; (2) as a result, HireRight’s revenue growth was unsustainable to the extent that it relied on the stability of its current customers’ hiring and/or the profitability of securing new customers; (3) accordingly, HireRight had overstated its post-IPO business and/or prospects; and (4) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Current Status of Case:
On September 23, 2024, the Lead Plaintiff filed to voluntarily dismiss the case. The Court entered its Order dismissing the case on September 26, 2024. This action has concluded.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.