WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Carvana Co. (NYSE: CVNA) resulting from allegations that Carvana may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Carvana securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=6457 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

WHAT IS THIS ABOUT: On June 24, 2022, after market hours, Barron’s published an article entitled “Carvana Sought to Disrupt Auto Sales. It Delivered Undriveable Cars.” The article detailed several alleged issues with the Company including stating “Barron’s interviews with Carvana customers and former employees shed light on why registrations were delayed and how state regulators have tried to address the issue. The reporting reveals a company scrambling to address the problem, at one point forming an ad hoc unit known as the ‘undriveable-car task force.'” The article also stated that “[i]n other instances, though, including Burton’s, Carvana sold cars before it had title to the vehicles, an action that is illegal in many states where the company does business.” The article further stated that “[i]nterviews with state officials and former Carvana employees show the issue is wider-reaching than the company suggests.”

On this news, Carvana’s share price fell $6.78 per share, or 21%, over the next two trading days, to close at $24.74 per share on June 28, 2022, damaging investors.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership…