New York, New York--(Newsfile Corp. - July 22, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of CarLotz, Inc. (NASDAQ: LOTZ) alleging that the Company violated federal securities laws.
Class Period: December 30, 2020 and May 25, 2021
Lead Plaintiff Deadline: September 7, 2021
No obligation or cost to you.
Learn more about your recoverable losses in LOTZ:
CarLotz, Inc. NEWS - LOTZ NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that CarLotz, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) due to a surge in inventory during the second half of fiscal 2020, CarLotz was experiencing a "logjam" resulting in slower processing and higher days to sell; (2) as a result, the Company's gross profit per unit would be negatively impacted; (3) to minimize returns to the corporate vehicle sourcing partner responsible for more than 60% of CarLotz's inventory, the Company was offering aggressive pricing; (4) as a result, CarLotz's gross profit per unit forecast was likely inflated; (5) this Company's corporate vehicle sourcing partner would likely pause consignments to the Company due to market conditions, including increasing wholesale prices; and (6) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in CarLotz you have until September 7, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased CarLotz securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
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