SHAREHOLDER ALERT: The Pomerantz Law Firm announces the filing of a class action lawsuit against Harbor Diversified, Inc.

NEW YORK, May 30, 2024 /PRNewswire/ — Pomerantz LLP announces that a class action lawsuit has been filed against Harbor Diversified, Inc. (“Harbor” or the “Company”) (OTC: HRBR). Investors are advised to contact Danielle Peyton at (email protected) or 646-581-9980 (or 888.4-POMLAW), toll-free, extension 7980. For inquiries by email, you will be asked to provide your mailing address, telephone number and the number of shares purchased.

The class action lawsuit concerns whether Harbor and certain of its officers and/or directors engaged in securities transactions Fraud or other unlawful business practices.

You have until July 8, 2024to ask the Court to appoint you as lead plaintiff for the class if you are a shareholder who purchased or otherwise acquired Harbor securities during the Class Period. A copy of the complaint is available attwww.pomerantzlaw.com.

(Click here for information on joining the class action lawsuit.)

At March 29, 2024Harbor filed a current report on Form 8-K with the U.S. Securities and Exchange Commission stating that March 26, 2024The Audit Committee (the “Audit Committee”) of Harbor’s Board of Directors, after considering management’s recommendations, concluded that the Company’s previously issued (i) consolidated financial statements and related information for the fiscal year December 31, 2022 contained in the Company’s Annual Report on Form 10-K, (ii) preliminary consolidated financial statements and related information in the Company’s Quarterly Reports on Form 10-Q for the first three quarters of the fiscal year December 31, 2022and (iii) preliminary consolidated financial statements and related information in the Quarterly Reports on Form 10-Q for the first three quarters of the fiscal year December 31, 2023 (collectively, the “Non-Confidential Periods”) should no longer be relied upon due to misstatements in those financial statements and those financial statements should be restated. In addition, the Company noted that the Audit Committee’s conclusion was based on management’s review of the accounting for certain revenues under the capacity purchase agreement (the “United Agreement”) previously entered into between Air Wisconsin Airlines LLC, a wholly owned subsidiary of the Company, and United Airlines, Inc. In particular, management determined that the decision to exclude all approximately 52.3 million US dollars for revenue and interest income in the consolidated financial statements and related disclosures for the non-reliance periods with respect to certain disputed amounts under the United Agreement were inconsistent with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers.

Following this news, Harbor’s share price fell $0.28 per share or 14.25%, and closed at 1,73 € per share on 1 April 2024.

Pomerantz LLP, with offices in new York, Chicago, Los Angeles, London, ParisAnd Tel-Avivis considered one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. PomerantzKnown as the dean of class action lawyers, Pomerantz was a pioneer in the field of securities class action litigation. Today, more than 85 years later, Pomerantz continues the tradition he established and fights for the rights of victims of securities class action litigation. FraudBreach of fiduciary duty and corporate misconduct. The firm has won billions of dollars in damages on behalf of class action plaintiffs. See www.pomlaw.com.

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

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