Portnoy Law Firm Announces Class Action on Behalf of EquipmentShare.com Investors
LOS ANGELES, July 28, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises EquipmentShare.com, (“EquipmentShare.com”
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LOS ANGELES, July 28, 2026 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises EquipmentShare.com, (“EquipmentShare.com” or the “Company”) (NASDAQ: EQPT) investors of a class action on behalf of investors that bought securities between January 23, 2026 and June 23, 2026, inclusive (the “Class Period”). EquipmentShare.com investors have until September 21, 2026 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/equipmentshare-com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
EquipmentShare.com operates an integrated cloud-based platform (“T3”) used for equipment rental and managing construction equipment. Equipment listed on the T3 platform is either owned by EquipmentShare.com or leased from third party participants under EquipmentShare.com’s OWN program. The complaint alleges that in its January 2026 IPO, EquipmentShare.com sold 30.5 million shares of Class A common stock at a price of $24.50 per share.
The EquipmentShare.com class action lawsuit alleges that in the IPO’s offering documents and throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) EquipmentShare.com participated in additional undisclosed related party transactions; and (ii) EquipmentShare.com had not terminated or substantially reduce a number of the transactions with entities owned or controlled by the co-founders.
On June 24, 2026, before the market opened, Umibōzu Research published a report alleging, among other things, that “undisclosed related-party transactions . . . have netted” entities affiliated with EquipmentShare.com founders “at least $77 million, with the true figure potentially running substantially higher.” The report allegedly states that EquipmentShare.com 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’).” According to the complaint, the report further details how EquipmentShare.com uses its OWN program to funnel significant fees and other payments to these related parties, and explains that a “web of 130 Schlacks-affiliated entities” “have further enabled [this] rampant self dealing.” The Umibōzu Research report allegedly concludes that “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, the price of EquipmentShare.com stock fell more than 6% on June 24, 2026, and nearly 12% on June 25, 2026, according to the complaint.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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