CVNA Class Action Complaint Filed: Johnson Fistel, Globally-Recognized Law Firm Encourages Shareholders to Submit Their Carvana Losses
Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Carvana Co. (NYSE: CVNA). The class action is on behalf of shareholders who purchased or otherwise acquired Carvana between May 6, 2020 and June 24, 2022, inclusive (the “Class Period”). Investors are hereby notified that they have until October 3,, 2022 to move the Court to serve as lead plaintiff in this action.
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
There is no cost or obligation to you.
The complaint alleges Defendants’ statements were misleading by omitting to disclose that Carvana: (1) faced serious ongoing issues with documentation, registration, and title with many of its vehicles; (2) was issuing unusually frequent temporary license plates; (3) was violating laws and regulations in many of its existing markets; (4) risked its ability to continue business and/or expand its business in existing markets; (5) was at increased risk of governmental investigation and action; (6) was in discussion with state and local authorities regarding the above-stated business tactics and issues; and, (7) was facing imminent and ongoing regulatory actions including license suspensions, business cessation, and probation in several states.
A lead plaintiff will act on behalf of all other class members in directing the Carvana class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Carvana class action lawsuit is not dependent upon serving as lead plaintiff. For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com