Investigation announced for Investors in shares of Harbor Custom Development, Inc. (NASDAQ: HCDI)

An investigation was announced over potential securities laws violations by Harbor Custom Development, Inc. in connection with certain financial statements.

Investors who purchased shares of Harbor Custom Development, Inc. (NASDAQ: HCDI), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Harbor Custom Development, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Gig Harbor, WA based Harbor Custom Development, Inc. engages in the real estate development business in Western Washington's Puget Sound region. Harbor Custom Development, Inc. reported that its annual Total Revenue rose from $5.7 million in 2018 to $30.95 million in 2019, and that its normalized Loss of $1.39 million in 2018 turned into normalized Income of $0.235 million in 2019.

Harbor Custom Development, Inc went public in August 2020, and sold 1.766 million shares at $6 per share for gross proceeds of $10.6 million in its initial public offering (“IPO”).

Since the IPO shares of Harbor Custom Development, Inc. (NASDAQ: HCDI) declined to as low as $3.05 per share on January 13, 2021.

Those who purchased shares of Harbor Custom Development, Inc. (NASDAQ: HCDI) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.