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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 May 21, 2021 to file lead plaintiff applications in a securities class action lawsuit against Vroom, Inc. (NasdaqGS: VRM).
Vroom and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 3, 2021, post-market, the Company announced its Q4 and Full Year 2020 financial results, disclosing that fourth quarter “Ecommerce Vehicle gross profit per unit decreased 13.1% to $878, driven primarily by lower sales margins, partially offset by improvements in inbound logistics and reconditioning costs per unit” as well as a fourth quarter increase in net loss from 41.9% to $60.7 million.
On this news, shares of Vroom plummeted $12.29 per share, or 27.9%, to close at $31.61 per share on March 4, 2021, on unusually heavy trading volume.
If you purchased securities of Vroom 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 first filed case is Zawatsky v. Vroom, Inc., et al., 21-cv-02477.
Click here to read the case complaint.