Levi & Korsinsky announces the filing of a class action lawsuit in the United States District Court for the Central District of California on behalf of shareholders of TrueCar, Inc. who purchased shares between May 16, 2014 and May 20, 2015.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (a) TrueCar’s business practices violated unfair competition and deceptive trade practice laws; (b) TrueCar acts as a dealer and broker in car sales transactions without proper licensing, in violation of various States’ laws that govern car sales; and as a result of the above (c) the Company’s financial statements were materially false and misleading at all relevant times. If you suffered a loss in TrueCar you have until July 27, 2015 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.
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