HyreCar Securities Settlement: Claim $0.20 per share (avg)

If you purchased or otherwise acquired publicly traded common stock of HyreCar Inc. between May 13, 2021, and August 10, 2021, you may be eligible to claim a cash award from a class action settlement.

HyreCar Inc. has agreed to pay $1,900,000 to settle a class action lawsuit for alleged false and misleading statements regarding the company's insurance reserve expense and liability.

Who can submit a claim?

• Those who acquired publicly traded common stock of HyreCar Inc. between May 13, 2021, and August 10, 2021; and
• Suffered losses

How much can class members get?

The estimated average recovery per eligible security is twenty cents per share.

• For each share purchased between May 14, 2021, and August 10, 2021, and sold before August 11, 2021, the Recognized Loss Amount is $0.00.
• For each share purchased during the same period and sold between August 11, 2021, and November 8, 2021, the Recognized Loss Amount is the lesser of $9.42, the purchase price minus the sale price, or the purchase price minus the 90-Day Lookback Value on the date of sale.
• For shares held as of the close of trading on November 8, 2021, the Recognized Loss Amount is the lesser of $9.42 or the purchase price minus the average closing price for HyreCar common stock during the 90-Day Lookback Period, which is $9.01.

Is proof required to submit a claim?

Yes, claimants need to provide proof to claim an award.

Documentation may consist of copies of brokerage confirmation slips or monthly brokerage account statements, or an authorized statement from your broker containing the transactional and holding information.

Filing a claim

To claim an award, you can submit your claim online or you can mail your completed claim form to the Claims Administrator at:

Ivan Baron v. HyreCar Inc., et al.

c/o Strategic Claims Services

P.O. Box 230

600 N. Jackson Street, Suite 205

Media, PA 19063

Settlement fund distribution

The settlement fund of $1,900,000 will cover:

• Attorneys' fees: Not to exceed 33⅓% of the Settlement Fund.
• Litigation costs and expenses: Not to exceed $163,500.
• Reasonable costs and expenses incurred by Lead Plaintiff: Not to exceed $10,000.

Important dates

• Deadline to File a Claim: December 14, 2024
• Final Approval Hearing: November 14, 2024

When is the HyreCar Inc. payout date?

The awards will be paid after the final approval of the settlement and the completion of all claims processing.

What happens next?

The Court will hold a Final Approval Hearing on November 14, 2024, to decide whether to approve the settlement. If approved, the claims process will proceed, and eligible claimants will receive their awards.