Carlotz Shareholder Alert From Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses Over $ 100,000 Of Lead Plaintiff’s Delay In Class Action Against CarLotz, Inc .

New Orleans, Louisiana – (Newsfile Corp. – August 5, 2021) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr ., remind investors that they have up to September 7, 2021 file principal plaintiff claims in a securities class action lawsuit against CarLotz, Inc. (NASDAQ: LOTZ) (NASDAQ: LOTZW), if they purchased the Company’s securities between December 30, 2020 and May 25, 2021 inclusive (the “Class Action Period”). This action is pending in the United States District Court for the Southern District of New York.

What you can do

If you have purchased securities from CarLotz and would like to discuss your legal rights and how this matter might affect you as well as your right to recover your economic loss, you can, without obligation or expense to you, contact free of charge Lewis Kahn, Managing Partner of KSF. at 1-877-515-1850 or by email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-lotz/ to learn more. If you wish to act as the principal plaintiff in this class action lawsuit, you must bring an application to the Court by September 7, 2021.

About the trial

CarLotz and some of its executives are accused of failing to disclose material information during the Class Period, in violation of federal securities laws.

On May 10, 2021, the Company disclosed disappointing 1Q2021 financial results, including gross profit per unit of $ 1,182, below expectations of between $ 1,300 and $ 1,500. At this news, the shares of the Company fell by more than 14%. Then, on May 26, 2021, the Company disclosed that “in light of current wholesale market conditions”, a major vehicle consignment supply partner had discontinued shipments to the Company.

On this news, CarLotz shares fell $ 0.70, or 13.4%, to close at $ 4.51 per share on May 26, 2021, on unusually high trading volume.

The case is Erdman v. CarLotz, Inc., N ° 21-cv-05906.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – seeking to recoup investment losses due to corporate fraud and corporate embezzlement listed on the stock exchange. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you can visit www.ksfcounsel.com.

Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100, rue Poydras, suite 3200
New Orleans, LA 70163

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/92262

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