Carvana Co. (CVNA) is facing a class action lawsuit alleging that the Company made materially false and/or misleading statements and/or failed to disclose that: (1) CVNA faced serious, ongoing issues with documentation, registration, and title with many of its vehicles; (2) as a result, CVNA was issuing unusually frequent temporary plates; (3) as a result of the foregoing, CVNA was violating laws and regulations in many existing markets; (4) as a result of the foregoing, CVNA risked its ability to continue business and/or expand its business in existing markets; (5) as a result of the foregoing, CVNA was at an increased risk of governmental investigation and action; (6) CVNA was in discussion with state and local authorities regarding the above-stated business tactics and issues; (7) CVNA was facing imminent and ongoing regulatory actions including license suspensions, business cessation, and probation in several states and counties including in Arizona, Illinois, Pennsylvania, Michigan, and North Carolina; and (8) as a result, Defendants’ statements about CVNA’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you incurred a loss on CVNA stocks purchased between May 6, 2020 and June 24, 2022, this lawsuit is on your behalf. The lawsuit was filed in the United States District Court for the District of New Jersey, and our firm is reaching out to investors to discuss their legal rights.
If you wish to act as a representative of the shareholders harmed by this misconduct, you may ask the court to appoint you as lead plaintiff. A lead plaintiff directs the litigation and participates in important decisions, including whether to accept a settlement for the class in the action.
You only have until October 3, 2022 to apply to be lead plaintiff. The court will then evaluate the applicants and choose a lead plaintiff. You are not required to act as a lead plaintiff in order to participate in any recovery.
Carvana Co. Class Action Lawsuit
Carvana Co. Lawsuit
CVNA Class Action Lawsuit
Carvana Co. (CVNA) Class Action Lawsuit