NEW YORK, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Carvana Co. ("Carvana" or the "Company") CVNA. Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Carvana and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 24, 2022, after market hours, Barron's published an article entitled "Carvana Sought to Disrupt Auto Sales. It Delivered Undriveable Cars." The Barron's article reported that "[i]n its haste to seize market share from competitors, Carvana was selling cars faster than it could get them registered to their new owners," which resulted in numerous violations of law and regulations in a number of jurisdictions.
On this news, Carvana's stock price fell $6.78 per share, or 21%, over the following two trading sessions, to close at $24.74 per share on June 28, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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