The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made material misrepresentations concerning the following: (1) that, 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) that, as a result, the Company’s gross profit per unit would be negatively impacted; (3) that, 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) that, as a result, CarLotz’s gross profit per unit forecast was likely inflated; (5) that 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, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
CarLotz, Inc. Securities Litigation
Jul 13, 2021 | CarLotz Inc. Class A Common Stock NASDAQ: LOTZ | Case Status: Filed
Filing Deadline: September 07, 2021
If you purchased a significant amount of shares of CarLotz Inc. Class A Common Stock (NASDAQ: LOTZ), you have certain options. Investors should contact us before September 07, 2021.
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First Identified Complaint
Daniel G. Erdman, et al. v. CarLotz, Inc., et al.
First Identified Complaint Filings
|#||Document Title||Filing Date|
|1||Class Action Complaint for Violations of the Federal Securities Laws||July 8th, 2021|
|2||U.S. District Court Civil Docket||July 10th, 2021|