Levi & Korsinsky notifies investors that it has commenced an investigation into Carvana Co. (NYSE: CVNA) concerning potential violations of the federal securities laws.
On June 23, 2023, Forbes released an article entitled "The Untold Story of HyperSport, Carvana's Mysterious And Scandal-Plagued Former Vendor." The article stated that HyperSport was submitting duplicate invoices to Carvana, which were being processed, thus, "charg[ing] multiple times for the same repair," according to one Carvana manager. The article also alleged that "HyperSport was controlled by a Carvana manager or his associates- and that as a result, HyperSport was incentivized to push through duplicate invoices to Carvana and skimp on buying its own supplies." On this news, Carvana's stock price fell 16.1% to close at $21.41 on June 23, 2023.
If you suffered a loss on your Carvana securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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