HireRight Holdings Corporation (NYSE: HRT)

This lawsuit is for anyone who acquired securities in HireRight Holdings Corporation (NYSE: HRT) from October 26, 2021 through April 2, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in the Prospectus to the Company’s IPO, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had greater revenue growth prospects than the Company knew to be the case given that the Company mainly derived its revenue from customers at significant risk from the fallout of hiring bad employees but that the Company knew there to be only so many businesses with such high risk.

On January 19, 2023, Seeking Alpha reported that brokerage and investment banking firm, Stifel, found HireRight to be exposed to large technology firms where there is more acute employment and hiring risk, and that more of the Company’s growth comes from existing client hiring than from new. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume and the stock trades at a lower price at the date of this lawsuit than at the time of the IPO.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in HireRight Holdings Corporation (NYSE: HRT) from October 26, 2021 through April 2, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.