New York, New York – (Newsfile Corp. – August 23, 2021) – The following statement is released by Levi & Korsinsky, LLP:
To: All persons or entities who have purchased or otherwise acquired securities of CarLotz, Inc. (“CarLotz”) (NASDAQ: LOTZ) between December 30, 2020 and May 25, 2021. You are hereby notified that a securities class action lawsuit has been brought in the United States District Court for the Southern District of New York. For more information, visit:
or contact Joseph E. Levi, Esq. either by email at [email protected] or by phone at (212) 363-7500. There is no cost or obligation for you.
CarLotz, Inc. NEWS – LOTZ NEWS
CASE DETAILS: According to the complaint filed: (1) due to an increase in inventory in the second half of fiscal 2020, CarLotz was experiencing a “traffic jam” resulting in slower processing and longer selling days; (2) as a result, the gross profit per unit of the Company would be negatively impacted; (3) to minimize returns to the corporate vehicle supply partner responsible for more than 60% of CarLotz’s inventory, the Company was offering aggressive pricing; (4) as a result, CarLotz’s gross margin per unit forecast has likely been inflated; (5) that company’s corporate vehicle supply partner would likely suspend shipments to the company due to market conditions, including increased wholesale prices; and (6) as a result of the foregoing, the Defendants’ positive statements regarding the business, operations and prospects of the Company were substantially misleading and / or lacked reasonable basis.
WHAT THIS MEANS FOR SHAREHOLDERS: If you have suffered a loss in CarLotz, you have up to September 7, 2021 ask the Court to appoint you as the principal plaintiff. Your ability to participate in any recovery does not require you to serve as the principal applicant.
NO COT FOR YOU: If you purchased CarLotz securities between December 30, 2020 and May 25, 2021, you may be entitled to compensation without payment of fees or out-of-pocket expenses.
PROTECT YOUR FINANCIAL INTERESTS: Fill out this brief submission form https://www.zlk.com/pslra-1/carlotz-inc-loss-submission-form?prid=18863&wire=5 or call 212-363-7500 to discuss the case with Joseph E. Levi, Esq.
WHY LEVI & KORSINSKY: Levi & Korsinsky have a proven track record of winning cases worth hundreds of millions of dollars to shareholders over a 20-year period. We represent and fight for shareholders who have been wronged by companies.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut and Washington, DC The firm’s founding partners, Joseph Levi and Eduard Korsinsky, have represented shareholders and institutional clients since nearly 20 years and have achieved remarkable results for clients in the United States and abroad. The firm, which has more than 80 employees, is committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion for employees and those we represent. Our lawyers have extensive expertise in representing investors in securities litigation with a history of recovering hundreds of millions of dollars in cases. Levi & Korsinsky has been ranked in the Institutional Shareholder Services (“ISS”) SCAS Top 50 report for 7 consecutive years as the best securities litigation firm in the United States. The SCAS Top 50 report identifies the leading plaintiff securities law firms in the country, and year after year ISS has recognized Levi & Korsinsky as a leading firm in the field of securities class actions.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94152