A securities class action has been filed against HireRight Holdings Corporation (HRT) on behalf of all those who purchased or otherwise acquired HireRight securities pursuant and/or traceable to the Offering Documents issued in connection with HireRight’s October 2021 initial public offering.  This case has been filed in the USDC – M.D.TN.

The complaint alleges HireRight’s Board breached its fiduciary duties and other violations of federal and state law in connection with the sale of the Company to investment funds affiliated with General Atlantic, L.P. (“General Atlantic”) and Stone Point Capital LLC (“Stone Point” and together with General Atlantic, the “Sponsors”). The Sponsors are currently the beneficial owners of approximately 75% of the Company’s outstanding shares of common stock. Under the terms of the agreement, the Sponsors will acquire all of the outstanding shares they do not already own for $14.35 per share in cash, which implies a total enterprise value of approximately $1.65 billion.

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