Carvana Co. (CVNA)

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Carvana Co. (“Carvana” or the “Company”) (NYSE: CVNA). Investors who purchased Carvana securities are encouraged to obtain additional information and assist the investigation.

 

The investigation concerns whether Carvana and certain of its officers and/or directors have violated federal securities laws.


On May 18, 2022, the Illinois Secretary of State’s office announced that Carvana’s license to sell vehicles in Illinois was suspended on May 10 due to the misuse of issuing out-of-state temporary registration permits and for failing to transfer titles.  The Secretary of State’s office stated that vehicles that have already been purchased but not yet delivered can still be delivered to the purchasers during the suspension, but no new vehicle sales can occur in Illinois during the suspension order.  On this news, Carvana’s stock price fell $6.55 per share, or 15.75%, to close at $35.05 per share on May 18, 2022.

 

If you are aware of any facts relating to this investigation or purchased Carvana shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

 

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.