Market Overview

I think you’ll love what you hear,
what you’ll see and the opportunities
that will be set before you.
- Jon Najarian

TRUECAR INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of TrueCar, Inc. - TRUE


Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces
that KSF has commenced an investigation into TrueCar, Inc. (NasdaqGS: TRUE).

On November 6, 2017, TrueCar disclosed that USAA, its most significant
marketing partner responsible for nearly one-third of the Company's
revenue, had made significant changes to its website that had a material
adverse effect on TrueCar's sales. Thereafter, the Company and certain
of its executives were sued in a securities class action lawsuit,
charging them with failing to disclose material information, violating
federal securities laws.

Recently, the court presiding over the case denied the Company's motion
to dismiss, allowing the case to proceed, finding that plaintiff had
sufficiently alleged "that Defendants made materially false and
misleading statements by making risk statements regarding TrueCar's
reliance on USAA's website without alerting the public that the risk had
already come to fruition and by falsely representing that USAA would be
a key driver of unit and revenue growth in 2017"; that "Defendants knew
about USAA's website redesign and its impact as of January 2017," and
"that [former Chief Financial Officer] Guthrie and [Chief Accounting
Officer] Pierantoni sold TrueCar stock in sales that were suspicious…."

KSF's investigation is focusing on whether TrueCar's officers and/or
directors breached their fiduciary duties to TrueCar's shareholders or
otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or
have been a long-term holder of TrueCar shares and would like to discuss
your legal rights, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (,
or visit
to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include Former Louisiana Attorney General Charles C.
Foti, Jr., is a law firm focused on securities, antitrust and consumer
class actions, along with merger & acquisition and breach of fiduciary
litigation against publicly traded companies on behalf of shareholders.
The firm has offices in New York, California and Louisiana.

To learn more about KSF, you may visit

View Comments and Join the Discussion!