NEW
YORK, Aug. 12, 2022 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Carvana Co. (NYSE:
CVNA).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/carvana-co-loss-form/?id=30784&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Carvana between May 6, 2020
and June 24, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
October 3, 2022 to petition
the court. Your ability to share in any recovery doesn't require
that you serve as a lead plaintiff.
According to a filed complaint, Carvana Co. issued materially
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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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content:https://www.prnewswire.com/news-releases/cvna-shareholder-alert-jakubowitz-law-reminds-carvana-shareholders-of-a-lead-plaintiff-deadline-of-october-3-2022-301604752.html
SOURCE Jakubowitz Law