NEW YORK, Oct. 08, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of investors in HyreCar Inc., Sesen Bio, Inc., PayPal Holdings, Inc., and Katapult Holdings, Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.

HyreCar Inc. (“HyreCar” or the “Company”) (NASDAQ: HYRE)

Class Period: May 14, 2021 to August 10, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: October 26, 2021

The lawsuit alleges throughout the Class Period, Defendants failed to disclose the following adverse facts, which were known to Defendants or recklessly disregarded by them: (1) HyreCar had materially understated its insurance reserves; (2) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (3) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims from prior periods; (4) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; (5) HyreCar had been forced to dramatically reform its claims underwriting, policies, and procedures in response to unacceptably high claims severity and customer complaints; and (6) as a result of the above, 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, and net loss trajectories.

For additional information on the HyreCar lawsuit please visit this website.

Sesen Bio, Inc. (“Sesen Bio” or the “Company”) (NASDAQ: SESN)

Class Period: December 21, 2020 to August 17, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: October 18, 2021

The lawsuit alleges throughout the Class Period, Defendants failed to disclose to investors: (1) that Sesen Bio’s clinical trial for Vicineum had more than 2,000 violations of trial protocol, including 215 classified as major; (2) that three of Sesen Bio’s clinical investigators were found guilty of serious noncompliance, including back-dating data; (3) that Sesen Bio had submitted the tainted data in connection with the BLA for Vicineum; (4) that Sesen Bio’s clinical trials showed that Vicineum leaked out into the body, leading to side effects including liver failure and liver toxicity, and increasing the risks for fatal, drug-induced liver injury; and (5) that, as a result of the foregoing, the Company’s BLA for Vicineum was not likely to be approved..

For additional information on the Sesen Bio lawsuits please visit this website.

PayPal Holdings, Inc. (“PayPal” or the “Company”) (NASDAQ: PYPL)

Class Period: February 9, 2017 to July 28, 2021
Pending Court: U.S. District Court for the Northern District of California
Lead Plaintiff Deadline: October 19, 2021

The lawsuit alleges throughout the Class Period, Defendants failed to disclose that: (i) PayPal had deficient disclosure controls and procedures; (ii) as a result, PayPal’s business practices with respect to PayPal Credit remained non-compliant with applicable laws and/or regulations; (iii) PayPal’s practices regarding payment of interchange rates related to its debit cards were likewise non-compliant with applicable laws and/or regulations; (iv) accordingly, PayPal’s revenues derived from its PayPal Credit and debit card practices were in part the subject of improper conduct and thus unsustainable; and (v) all the foregoing subjected the Company to an increased risk of regulatory investigation and enforcement.

For additional information on the PayPal lawsuit please visit this website.

Katapult Holdings, Inc. f/k/a FinServ Acquisition Corp. (“Katapult” or the “Company”) (NASDAQ: KPLT)

Class Period: December 18, 2020 to August 10, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: October 26, 2021

The lawsuit alleges throughout the Class Period, Defendants failed to disclose to investors: (1) that Katapult was experiencing declining e-commerce retail sales and consumer spending; and (2) that despite Katapult’s assertions that it was clear and compelling value proposition to both consumers and merchants, transforming the way non-prime consumers shop for essential goods and enabling merchant access to this underserved segment, Katapult lacked visibility into its consumers future buying behavior.

For additional information on the Katapult lawsuit please visit this website.

About Kirby McInerney LLP:

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
[email protected]
www.kmllp.com