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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 7, 2021 to file lead plaintiff applications in a securities class action lawsuit against CarLotz, Inc. (NasdaqGS: LOTZ, LOTZW).
CarLotz and certain of its executives are charged with failing to disclose material information during the Class Period, violating 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. On this news, the Company’s shares fell by more than 14%. Then, on May 26, 2021, the Company disclosed that “in light of current wholesale market conditions,” a significant vehicle consignment sourcing partner had halted consignments to the Company.
On this news, shares of CarLotz fell $0.70, or 13.4%, to close at $4.51 per share on May 26, 2021, on unusually heavy trading volume.
If you purchased securities of CarLotz and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or fill out the form on this page.
The case is Erdman v. CarLotz, Inc., No. 21-cv-05906.
Click here to read the first filed complaint.