SHAREHOLDER ALERT: Pomerantz Law Firm Announces Filing of Class Action Lawsuit Against Harbor Diversified, Inc.

NEW YORK, May 16, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Harbor Diversified, Inc. (“Harbor” or the “Company”) (OTC: HRBR). These investors are advised to contact Danielle Peyton has (email protected) or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those inquiring by email are encouraged to include their mailing address, telephone number and number of shares purchased.

The class action involves whether Harbor and certain of its officers and/or directors engaged in securities trading. fraud or other illegal business practices.

You have until July 8, 2024, to ask the court to appoint you as class lead plaintiff if you are a shareholder who purchased or otherwise acquired Harbor securities during the Class Period. A copy of the complaint can be obtained from atwww.pomerantzlaw.com.

(Click here to learn how to join the class action)

On March 29, 2024Harbor filed a Current Report on Form 8-K with the United States Securities and Exchange Commission which disclosed that, the March 26, 2024The Audit Committee (the “Audit Committee”) of the Board of Directors of Harbor has concluded, after reviewing management’s recommendations, that the consolidated financial statements and related information previously issued by the Company as of the date and for the financial year ended December 31, 2022 contained in the Company’s Annual Report on Form 10-K, (ii) the interim consolidated financial statements and related information contained in the Quarterly Reports on Form 10-Q as of and for the first three quarters of the fiscal year ended December 31, 2022and (iii) the interim consolidated financial statements and related information contained in the quarterly reports on Form 10-Q beginning with and for the first three quarters of the then-completed fiscal year. December 31, 2023 (collectively, the “Unreliability Periods”) should no longer be relied upon due to misstatements contained in these financial statements, and that these financial statements should be restated. Additionally, the Company indicated that the audit committee’s conclusion was based on management’s review of the recognition of certain revenues under the capacity purchase agreement (the “Joint Agreement”) previously entered into between Air Wisconsin Airlines LLC, a wholly owned subsidiary of the Company. , and United Airlines, Inc. Specifically, management has determined that the decision to recognize all of approximately $52.3 million Revenue and interest income in the consolidated financial statements and related information prepared for non-religious periods regarding certain disputed amounts under the United Accord were not in compliance with Topic 606 of the Accounting Standards Codification , Revenue from contracts with customers.

On this news, Harbor’s share price fell $0.28 per share, or 14.25%, to close at $1.73 per share on April 1, 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel Aviv, is recognized as a leading firm in the areas of corporate, securities and antitrust class litigation. Founded by fire Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz was a pioneer in the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of securities victims. fraud, breaches of fiduciary duties and corporate malpractice. The firm has recovered billions of dollars in damages on behalf of class members. See www.pomlaw.com.

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CONTACT:
Danielle Peyton
Pomerantz LLP
(email protected)
646-581-9980 ext. 7980

SOURCE Pomerantz LLP