Brief: HyreCar - On Dec 8, Co Placed Each Of Joseph Furnari, Co's CEO, On An Unpaid Leave Of Absence From Co For Indefinite Period Pending Investigations - Filing

HC Liquidating

09/12/2022 22:05

Dec 9 (Reuters) - HyreCar Inc  HYRE.O :
    * HYRECAR - ON DEC 8, CO PLACED EACH OF JOSEPH FURNARI, CO’S
CEO,
ON AN UNPAID LEAVE OF ABSENCE  FROM CO FOR INDEFINITE PERIOD
PENDING INVESTIGATIONS
    * HYRECAR INC - HAS REVIEWED FEDERAL GRAND JURY SUBPOENA
RECEIVED
ON BEHALF OF CO ON DEC 1 FROM U.S. DISTRICT COURT FOR CENTRAL
DISTRICT OF CALIFORNIA
    * HYRECAR INC - DURING TERMS OF LOA, JOSEPH FURNARI AND
MICHAEL
FURNARI WILL CONTINUE TO BE EMPLOYED BY COMPANY
    * HYRECAR INC -  DURING TERMS OF LOA, JOSEPH FURNARI WILL NO
LONGER PERFORM FUNCTION OF PRINCIPAL EXECUTIVE OFFICER
    * HYRECAR INC -  DURING TERMS OF LOA, MICHAEL FURNARI WILL
NO
LONGER PERFORM FUNCTION OF CHIEF BUSINESS DEVELOPMENT OFFICER
    * HYRECAR INC - EDUARDO INIGUEZ WILL CONTINUE TO BE
COMPENSATED
PURSUANT TO TERMS OF HIS EXISTING EMPLOYMENT ARRANGEMENT WITH 
COMPANY
    * HYRECAR - SUBPOENA IN CONNECTION WITH CRIMINAL
INVESTIGATION
BEING CONDUCTED BY U.S. ATTORNEY'S OFFICE FOR CENTRAL DISTRICT
OF CALIFORNIA, DOJ'S CRIMINAL FRAUD SECTION
    * HYRECAR -ON DEC 8, PLACED MICHAEL FURNARI, CHIEF BUSINESS
DEVELOPMENT OFFICER, ON UNPAID LEAVE OF ABSENCE FOR INDEFINITE
PERIOD PENDING INVESTIGATIONS
    * HYRECAR INC - DURING LOA,  JOSEPH FURNARI, MICHAEL FURNARI
WILL
NOT RECEIVE ANY PORTION OF RESPECTIVE SALARY UNDER TERMS OF
RESPECTIVE EMPLOYMENT DEAL
    * HYRECAR INC - JOSEPH FURNARI WILL CURRENTLY CONTINUE TO
SERVE AS
A DIRECTOR OF COMPANY DURING HIS LOA
    * HYRECAR INC -  JOSEPH FURNARI WILL NOT BE INVOLVED WITH
COMPANY'S RESPONSE TO, OR OVERSIGHT OF, INVESTIGATIONS IN HIS
CAPACITY AS DIRECTOR
    * HYRECAR INC - BRIAN ALLAN, COMPANY'S PRESIDENT, WILL
PERFORM
DUTIES OF CHIEF BUSINESS DEVELOPMENT OFFICER DURING TERM OF
MICHAEL FURNARI'S LOA
    * HYRECAR-GRAND JURY SUBPOENA REQUIRES CO TO PRODUCE
DOCUMENTS
RELATING TO ENTRY INTO 10B5-1 PLANS, CERTAIN TRADES OF CO'S
COMPANY STOCK BY CO INSIDERS DURING 2021
    * HYRECAR INC - ON DEC 7, RECEIVED SUBPOENA FOR DOCUMENTS
FROM
U.S. SEC RELATING TO AN INVESTIGATION CONCERNING TRADING OF
COMPANY'S STOCK
    * HYRECAR INC - INTENDS TO FULLY COOPERATE WITH CRIMINAL
INVESTIGATION AND SEC INVESTIGATION
    * HYRECAR INC - HAS ESTABLISHED A COMMITTEE TO PROVIDE
OVERSIGHT
OF COMPANY'S CONDUCT OF INVESTIGATIONS
    * HYRECAR -NEITHER CO NOR ANY OFFICER, DIRECTOR, OR EMPLOYEE
OF CO
HAS BEEN CHARGED WITH ANY CRIME OR CIVIL WRONGDOING IN
CONNECTION WITH INVESTIGATIONS

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