CARLOTZ ALERT: Bragar Eagel & Squire, PC is investigating CarLotz, Inc. on behalf of … | News
NEW YORK, December 17, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized law firm, is investigating potential claims against CarLotz, Inc. (NASDAQ: LOTZ) on behalf of long-term shareholders following a class action lawsuit filed against CarLotz on July 8, 2021. Our investigation examines whether CarLotz’s board of directors breached its fiduciary duties to the company.
The lawsuit filed in this class action lawsuit alleges that throughout the class action period, the defendants made materially false and / or misleading statements, and did not disclose material adverse facts regarding the business, operations and matters. perspectives of the company. Specifically, the Defendants made false claims regarding the following: (1) that due to an increase in inventory in the second half of fiscal 2020, CarLotz was experiencing a âtraffic jamâ resulting in slower processing and longer selling days; (2) that as a consequence, the gross profit per unit of the Company would be adversely affected; (3) that in order to minimize returns to the corporate vehicle supply partner responsible for more than 60% of CarLotz’s inventory, the Company was offering aggressive pricing; (4) that, as a result, CarLotz’s expected gross profit per unit was likely inflated; (5) that this company’s corporate vehicle supply partner would likely suspend shipments to the company due to market conditions, including increased wholesale prices; and (6) as a result, the Defendants’ statements regarding its business, operations and prospects were materially false and misleading and / or lacked reasonable basis at all relevant times.
If you are a long-term CarLotz shareholder, have any information, would like to learn more about these claims, or have any questions regarding this announcement or your rights or interests in any such matters, please contact Brandon Walker or Alexandra B. Raymond by email at [email protected], or call (212) 355-4648, or by fill out this contact form. There is no cost or obligation for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.
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