Carvana Co. (CVNA)
Class Action & Lead Plaintiff Deadline: October 3, 2022
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Carvana Co. (“Carvana” or the “Company”) (NYSE: CVNA) and certain of its officers, on behalf of a class consisting of all persons and entities that purchased or otherwise acquired Carvana securities between May 6, 2020 and June 24, 2022, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Act of 1934 (the “Exchange Act”).
The Complaint alleges that throughout the Cclass Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Carvana faced serious, ongoing issues with documentation, registration, and title with many of its vehicles; (2) as a result, Carvana was issuing unusually frequent temporary plates; (3) as a result of the foregoing, Carvana was violating laws and regulations in many existing markets; (4) as a result of the foregoing, Carvana risked its ability to continue business and/or expand its business in existing markets; (5) as a result of the foregoing, Carvana was at an increased risk of governmental investigation and action; (6) Carvana was in discussion with state and local authorities regarding the above-stated business tactics and issues; (7) Carvana 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 Carvana’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Carvana you have until October 3, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.