LOS ANGELES, Oct. 3, 2022 (GLOBE NEWSWIRE) — The law office of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders in the following public companies. Investors have until the deadlines listed below to file a lead plaintiff filing.

Investors who experience losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email at [email protected].

Carvana Co. (NYSE: CVNA)
Class Period: May 6, 2020 – June 24, 2022
Deadline for lead plaintiff: October 3, 2022

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, Carvana risked its ability to continue and/or expand its business in existing markets; (5) as a result of the foregoing, Carvana has been exposed to an increased risk of government investigation and action; (6) Carvana has been in discussions with state and local authorities regarding the above business tactics and issues; (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 Carolina; and (8) as a result, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked reasonable…