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NEW YORK, Sept. 27, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors, who have purchased or acquired the securities of Carvana Co. (“Carvana” or the “Company”) CVNA in between May 6, 2020 and June 24, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of New Jersey alleging violations of the Securities Exchange Act of 1934.
Carvana, along with its subsidiaries, purports to be an e-commerce platform for buying and selling used cars in the United States.
Plaintiff alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. In particular, the defendants allegedly provided false and/or misleading information and/or failed to disclose the following: (1) Carvana had 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) Carvana has violated laws and regulations in many established markets; (4) Carvana risked its ability to continue its business and/or expand its business in existing markets; (5) Carvana faced an increased risk of governmental investigations and actions; (6) Carvana has been in discussions with state and local authorities regarding the above business tactics and issues; and (7) Carvana faced pending and ongoing regulatory actions, including license suspensions, suspension of business and probation in multiple states and counties including Arizona, Illinois, Pennsylvania, Michigan and North…
Read full story here https://www.benzinga.com/pressreleases/22/09/g29024380/carvana-co-nyse-cvna-shareholder-class-action-alert-bernstein-liebhard-llp-reminds-investors-of-th