Kirby McInerney also said it is investigating EquipmentShare, citing IPO-era disclosures, the company’s OWN Program costs and margins, and a later short-seller report alleging related-party transactions.
Multiple plaintiff law firms are investigating EquipmentShare.com Inc. over possible securities-law violations after disclosures tied to the company’s cost structure, margins and OWN Program were followed by sharp share-price declines, and after a later Umibōzu Research report alleged at least $77 million in undisclosed related-party transactions tied to founder-affiliated entities. Kirby McInerney LLP said EquipmentShare completed its initial public offering on or around January 23, 2026, selling 35,075,000 shares at $24.50 each, and pointed to the company’s March 18, 2026 financial results and March 19, 2026 Form 10-K as providing additional detail on the significance of the OWN Program and its effect on operations and margins. EquipmentShare shares fell about 11.2% between March 18 and March 20, and later dropped about 12% between June 24 and June 25 after the Umibōzu report. The Schall Law Firm had separately said it was investigating possible false or misleading statements or omissions linked to the June 24 report.