CVNA CLASS ACTION NOTICE

Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Carvana Co. - Seite 2

On this news, the Company’s stock fell $6.78, or 21%, over two consecutive trading sessions to close at $24.74 per share on June 28, 2022, on unusually heavy trading volume.

The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) that Carvana faced ongoing issues with documentation, registration, and title for many of its vehicles across the country; (2) that, as a result, Carvana was issuing frequent temporary plates; (3) that the suspension of Carvana’s license in North Carolina was not a “relatively unusual” action and, in fact, the Company was under investigation by many states for violating laws and regulations regarding proper documentation and inspections; (4) that, as a result of the foregoing, there was a substantial risk to Carvana’s ability to continue business and/or expand its business in existing markets; (5) that Carvana was facing imminent regulatory action including license suspension in several states; (6) that, as a result of the foregoing, Carvana faced increased oversight in certain states, including Illinois; and (7) 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.

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If you purchased or otherwise acquired Carvana securities during the Class Period, you may move the Court no later than October 3, 2022 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [e-mail], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220929005839/en/

The Carvana Registered (A) Stock at the time of publication of the news with a fall of -23,00 % to 20,69EUR on NYSE stock exchange (29. September 2022, 19:21 Uhr).