NEW YORK, Sept. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Carvana Co. (“Carvana” or the “Company”) (NYSE: CVNA). Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Carvana and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On June 24, 2022, after market close, Barrons published an article entitled “Carvana to disrupt car sales. It delivered undrivable cars”. That Barrons Article reports that “[i]In its rush to capture market share from competitors, Carvana was selling cars faster than they could be registered to their new owners, resulting in numerous violations of laws and regulations in a number of jurisdictions.

As a result of this news, Carvana’s stock price fell $6.78 per share, or 21%, in the following two trading sessions to close on June 28, 2022 at $24.74 per share.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980