The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Carvana Co. (“Carvana” or “the Company”) (NYSE: CVNA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Carvana is the subject of a article published by Forbes on June 23, 2023, titled: “The Untold Story of HyperSport, Carvana’s Mysterious And Scandal-Plagued Former Vendor.” The article claims there is a link between the Company and its HyperSport vendor despite it never being disclosed. According to Forbes, “HyperSport was controlled by a Carvana manager or his associates-and that as a result, HyperSport was incentivized to push through duplicate invoices to Carvana and skimp on buying its own supplies.” A former Carvana employee was quoted as saying “we had a feeling that someone was getting a kickback out of this. It didn’t make sense.” Based on this news, shares of Carvana fell by 16.1% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230628143882/en/
Contacts
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
