Class Action Reports

LOTZ Class Action: Learn About the CarLotz Lawsuit

Levi & Korsinsky, LLP

July 13, 2021

Levi & Korsinsky, LLP announces that a LOTZ class action lawsuit has been filed on behalf of investors who purchased CarLotz, Inc.(LOTZ) securities between December 30, 2020, and May 25, 2021. For more on the LOTZ Lawsuit please contact us today.

According to the CarLotz lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) 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) as a result, the Company’s gross profit per unit would be negatively impacted; (3) 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) as a result, CarLotz’s gross profit per unit forecast was likely inflated; (5) 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 of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

 

TO LEARN MORE ABOUT THE LOTZ CLASS ACTION LAWSUIT, CLICK HERE

 

If you suffered a loss in CarLotz you have until September 7, 2021, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

jlevi@levikorsinsky.com

Tel: (212) 363-7500

Fax: (212) 363-7171

www.zlk.com