Case Summary

Harbor Diversified

Other: HRBR

Case Details

  • Kothari v. Harbor Diversified, Inc.
  • Class Period: May 10, 2022 - March 29, 2024
  • Date Filed:May 07, 2024
  • Jurisdiction:U.S. District Court, Eastern District of Wisconsin
  • Docket Number: 1:24-cv-00556
  • Lead Plaintiff Deadline: July 8, 2024
Days Left to
Seek Plaintiff
44

Overview

A class action lawsuit has been filed against Harbor Diversified, Inc. (“Harbor Diversified” or the “Company”) (Other: HRBR) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws.  The Harbor Diversified class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired publicly traded Harbor Diversified securities between May 10, 2022 and March 29, 2024, both dates inclusive (the “Class Period”).  Investors have until July 8, 2024 to seek appointment as lead plaintiff of the Harbor Diversified class action lawsuit.

Harbor Diversified describes itself as a non-operating holding company that is the parent of a consolidated group of subsidiaries, including AWAC Aviation, Inc. (“AWAC”), which is the sole member of Air Wisconsin Airlines LLC (“Air Wisconsin”), a regional air carrier.  Harbor Diversified is also the direct parent of three other subsidiaries: (1) Lotus Aviation Leasing, LLC (“Lotus”), which leases flight equipment to Air Wisconsin, (2) Air Wisconsin Funding LLC (“AWF”), which provides flight equipment financing to Air Wisconsin, and (3) Harbor Therapeutics, Inc. (“Therapeutics”), which is a non-operating entity with no material assets.

The Harbor Diversified lawsuit alleges that Defendants, throughout the Class Period, made materially false and/or misleading statements and/or failed to disclose that: (1) Harbor Diversified’s financial statements from May 9, 2022 to the present were misstated due to improper revenue recognition; (2) Harbor Diversified lacked adequate internal controls; and (3) as a result, Defendants’ statements about their business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all times.  When the true details entered the market, investors suffered damages.

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If you purchased or otherwise acquired publicly traded Harbor Diversified securities between May 10, 2022 and March 29, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Harbor Diversified lawsuit is July 8, 2024.

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