investors with losses Contact the law firm for free to learn more about recovering their losses

LOS ANGELES, Sept. 15, 2022 (GLOBE NEWSWIRE) — The law firm of Portnoy Carvana Co. (“Carvana” or the “Company”) (NYSE: CVNA) is notifying investors that a class action lawsuit has been filed on behalf of investors. Carvana investors who have lost money investing are encouraged to do so Contact Lesley Portnoy, Esq.

Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: [email protected] to discuss your legal rights, or click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.

On June 24, 2022, after the close of trading, Barron’s 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 indicating where dealer licenses are located.” instead of providing perpetual licenses immediately.

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 existing markets; (4) As a result of the foregoing, Carvana risked its ability to continue and/or expand its business…