NEWTOWN SQUARE, Pa.--(BUSINESS WIRE)--Kaskela Law LLC is investigating TrueCar, Inc. (Nasdaq: TRUE) (“TrueCar” or the “Company”) on behalf of the Company’s shareholders.
A shareholder class action complaint was filed against TrueCar on behalf of investors who purchased shares of the Company’s stock between February 16, 2017 and November 6, 2017. During that time period shares of TrueCar’s stock traded as high as $21.00 per share, and currently trade below $10.00 per share.
Among other things, the complaint alleges that TrueCar and certain of the Company’s executive officers violated the federal securities laws by making a series of materially false and misleading statements to investors concerning the impact that extensive website changes were having on the Company business, operations, and financial results. Recently the federal court presiding over the litigation denied a motion to dismiss the shareholder complaint, paving the way for litigation to proceed against the defendants.
Kaskela Law LLC is investigating whether members of TrueCar’s Board of Directors violated the securities laws and/or otherwise failed to properly fulfill their fiduciary duties to the Company and its stockholders in connection with the above.
Stockholders who purchased shares of TrueCar’s common stock prior to February 16, 2017 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or via email at skaskela@kaskelalaw.com, to discuss this investigation and their legal rights and options. Additional information may also be found at http://kaskelalaw.com/case/truecar-inc/.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
This notice may constitute attorney advertising in certain jurisdictions.
