LOS ANGELES, Sept. 22, 2022 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) reminds investors of what’s to come October 3, 2022 Deadline for filing a motion by lead plaintiff in the class action lawsuit filed on behalf of investors, the Carvana Co. (“Carvana” or the “Company”) (NYSE: CVNA) securities between May 6, 2020 and June 24, 2022inclusive (the “Class Period”).

If you have suffered a loss on your Carvana investments or would like to inquire about the possibility of making claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/cases/carvana-co/. You can also contact GPM’s Charles H. Linehan at 310-201-9150, toll free at 888-773-9224, or email at [email protected] to learn more about your rights.

On June 24, 2022, after market close, Barrons published an article alleging, among other things, that Carvana was “selling cars faster than they could be registered to their new owners” and “issuing several temporary license plates from states where it has dealer licenses, rather than promptly providing permanent ones.”

As a result of this news, Carvana’s stock fell $6.78, or 21.5%, over the next two trading days to close at $24.74 per share on June 28, 2022, hurting investors.

The Complaint filed in this Class Action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors that: (1) Carvana faced serious and ongoing documentation, registration and title issues with many of its vehicles; (2) as a result, Carvana issued temporary license plates with unusual frequency; (3) as a result of the foregoing, Carvana has violated laws and regulations in many established markets; (4) as a result of the foregoing, …