SAN DIEGO, July 24, 2026 /PRNewswire/ — Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired EquipmentShare.com, Inc. (NASDAQ: EQPT) (a) Class A common stock issued in connection with the Company’s January 2026 initial public offering (“IPO”), or (b) securities between January 23, 2026 and June 23, 2026. EquipmentShare operates an integrated cloud-based platform (“T3”) used for equipment rental and managing construction equipment.
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The Allegations: Robbins LLP is Investigating Allegations that EquipmentShare.com, Inc. (EQPT) Made False and Misleading Statements in Connection with its IPO and During the Class Period
According to the complaint, EquipmentShare.com went public on January 26, 2026. Then, on June 24, 2026, 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. The stock continued to decline the subsequent trading day, falling $2.61 or 11.7% to close at $19.69 per share on June 25, 2026. 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.
Plaintiff alleges that the Registration Statement in support of the Company’s IPO and during the class period, 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; and (3) as a result, the Company’s financial statements were materially misleading.
What Now: You may be eligible to participate in the class action against EquipmentShare.com, Inc. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
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SOURCE Robbins LLP