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CLASS ACTION UPDATE for HYRE, WDH and BMRN: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

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NEW YORK, NY / ACCESSWIRE / October 26, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

HYRE Shareholders Click Here: https://www.zlk.com/pslra-1/hyrecar-inc-loss-submission-form?prid=20687&wire=1
WDH Shareholders Click Here: https://www.zlk.com/pslra-1/waterdrop-inc-loss-submission-form?prid=20687&wire=1
BMRN Shareholders Click Here: https://www.zlk.com/pslra-1/biomarin-pharmaceutical-inc-loss-submission-form-2?prid=20687&wire=1

* ADDITIONAL INFORMATION BELOW *

HyreCar Inc. (NASDAQ:HYRE)

HYRE Lawsuit on behalf of: investors who purchased May 14, 2021 - August 10, 2021
Lead Plaintiff Deadline: October 26, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/hyrecar-inc-loss-submission-form?prid=20687&wire=1

According to the filed complaint, during the class period, HyreCar Inc. 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.

Waterdrop Inc. (NYSE:WDH)

This lawsuit is on behalf of all persons or entities who purchased Waterdrop American Depositary Shares in or traceable to the Company's May 2021 initial public offering.
Lead Plaintiff Deadline: November 15, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/waterdrop-inc-loss-submission-form?prid=20687&wire=1

According to the filed complaint, (a) Waterdrop had achieved a substantial portion of its historical revenue growth through illicit means that ran afoul of Chinese rules and regulations governing the insurance industry; (b) Waterdrop had been ordered by the Chinese government to shut down its mutual aid platform because of its failure to comply with Chinese law; (c) Waterdrop was under investigation by regulatory authorities for continued violations of Chinese law; (d) as a result of (a)-(c) above, there existed a material undisclosed risk and substantial likelihood that Waterdrop would face severe adverse actions by regulatory authorities following the IPO; (e) Waterdrop's operating losses had increased more than four-fold in the first quarter of 2021 as a result of the cessation of its mutual aid business and rapidly growing customer acquisition costs; and (f) as a result of (a)-(e) above, the Registration Statement's representations regarding Waterdrop's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company in the lead up to the IPO, were materially false and misleading, and lacked a factual basis.

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

BMRN Lawsuit on behalf of: investors who purchased January 13, 2020 - September 3, 2021
Lead Plaintiff Deadline: December 22, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/biomarin-pharmaceutical-inc-loss-submission-form-2?prid=20687&wire=1

According to the filed complaint, during the class period, BioMarin Pharmaceutical Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) BMN 307 was less safe than BioMarin had led investors to believe; (ii) BMN 307's safety profile made it likely that the FDA would place a clinical hold on the Phearless Phase 1/2 study; (iii) accordingly, the Company had overstated BMN 307's clinical and commercial prospects; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky LLP



View source version on accesswire.com:
https://www.accesswire.com/669751/CLASS-ACTION-UPDATE-for-HYRE-WDH-and-BMRN-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders