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Robbins Arroyo LLP: Litigation Continues Against TrueCar, Inc. (TRUE)


Shareholder rights law firm Robbins
Arroyo LLP
announces TrueCar, Inc. (NASDAQ:TRUE) may face damages
caused by a pending securities class action lawsuit. TrueCar is an
automotive pricing and information website for new and used car buyers
and dealers.

View this information on the law firm's Shareholder Rights Blog:

Shareholder Class Action Alleging Defendants Made Materially False
and Misleading Statements Survives Motion to Dismiss

Investors filed a class action complaint against TrueCar for alleged
violations of the Securities Exchange Act of 1934. According to the
complaint, TrueCar's largest source of revenue comes from the United
Services Automobile Association ("USAA"). The complaint alleges that
TrueCar made positive statements about its prospects and growth while
failing to disclose negative developments related to USAA's changes to
the website maintained by TrueCar, which had a negative effect on the
volume of purchases generated by USAA. On this news, TrueCar's shares
fell over 35%, and currently trade even lower at $9.76 per share. On
February 5, 2019, U.S. District Court Judge Stephen V. Wilson denied
defendant's motion to dismiss plaintiff's complaint, paving the way for
litigation to proceed.

TrueCar Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003,,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock

Attorney Advertising. Past results do not guarantee a similar outcome.

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