Glancy Prongay Wolke & Rotter LLP (“GPWR”), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Parra v. EquipmentShare.com Inc., et al., Case No. 1:26-cv-06288, on behalf of persons and entities that purchased or otherwise acquired EquipmentShare.com Inc. (“EquipmentShare” or the “Company”) (NASDAQ: EQPT): (a) Class A common stock pursuant and/or traceable to the Company’s January, 2026 initial public offering (“IPO”); and/or (b) securities between January 23, 2026 and June 23, 2026, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.

IF YOU SUFFERED A LOSS ON YOUR EQUIPMENTSHARE INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS.

What Happened?

On January 26, 2026, EquipmentShare conducted its IPO, selling 30.5 million shares of Class A common stock at a price of $24.50 per share.

On June 24, 2026, before the market opened, Umibōzu Research, a stock market focused media outlet, published a report alleging, among other things, that “undisclosed related-party transactions . . . have netted” entities affiliated with EquipmentShare founders “at least $77 million, with the true figure potentially running substantially higher.” The report states that the Company maintains a high-net-worth individuals and family-office channel “built around three undisclosed entities – EZ Equipment Zone (‘EZ’), Bevel Financial (‘Bevel’), and Armada Fleet Management (‘Armada’).” The report details how the Company uses its OWN program to funnel significant fees and other payments to these related parties, and details a “web of 130 Schlacks-affiliated entities,” which “have further enabled [this] rampant self dealing.” The report concludes “a key reason OWN exists is to enrich the Schlacks, with interviews and corporate filings indicating they own and manage Bevel and Armada.”

On this news, EquipmentShare’s stock price fell $1.58, or 6.62%, to close at $22.30 on June 24, 2026, on unusually heavy trading volume. The stock continued to decline on the subsequent trading day, falling $2.61 or 11.7% to close at $19.69 on June 25, 2026, on unusually heavy trading volume.

By the commencement of this action, EquipmentShare stock has traded as low as $16.06 per share, a more than 34.5% decline from the $24.50 per share IPO price.

What Is The Lawsuit About?

The complaint filed in this class action alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) the Company participated in additional undisclosed related party transactions; (2) the Company had not terminated or substantially reduce a number of the transactions with entities owned or controlled by the co-founders; (3) as a result, the Company’s financial statements were materially misleading; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired EquipmentShare securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Charles Linehan, Esq.,
Glancy Prongay Wolke & Rotter LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: shareholders@glancylaw.com
Telephone: 310-201-9150,
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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