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 failed to disclose to investors: (1) that Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) that, as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) that, as a result, the ecommerce gross profit per unit was reasonably likely to decline; and (4) that, 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.
Vroom, Inc. Securities Litigation
Mar 28, 2021 | Vroom Inc. Common Stock NASDAQ: VRM | Case Status: Filed
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First Identified Complaint
Richard Zawatsky, et al. v. Vroom, Inc., et al.
First Identified Complaint Filings
|#||Document Title||Filing Date|
|1||Class Action Complaint for Violations of the Federal Securities Laws||March 22nd, 2021|
|2||U.S. District Court Civil Docket||March 22nd, 2021|