LOS ANGELES, CA / ACCESSWIRE / September 27, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Carvana Co. ("Carvana" or "the Company") (NYSE:CVNA) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between May 6, 2020 and June 24, 2022, inclusive (the ''Class Period''), are encouraged to contact the firm before October 3, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Carvana suffered from ongoing problems related to the title, registration, and documentation of many of its vehicles. The Company was forced to issue temporary license plates quite frequently. The Company was violating laws and regulations in many of its existing markets. These legal violations put the Company's business at risk. The Company was at imminent risk of penalties including license revocation and business cessation in states including Arizona, Illinois, Pennsylvania, Michigan, and North Carolina. Based on these facts, the Company's public statements were false and materially misleading. When the market learned the truth about Carvana, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm