Investors accuse construction tech firm of self-dealing scheme

Investors filed a class action against EquipmentShare, an AI-driven construction tech company, alleging it used over 100 affiliated entities to siphon at least $77 million through undisclosed self-dealing. The lawsuit claims the company's stock price dropped 11.7% following a report by Umibōzu Research, which accused leadership of misleading investors and operating a 'Ponzi-adjacent' business model.