CarMax, Inc. (NYSE: KMX)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into CarMax, Inc. (NYSE: KMX) (“CarMax” or the “Company”).

On September 25, 2025, the Company announced its second quarter Fiscal Year 2026 financial results, disclosing, among other things, that retail unit sales had decreased 5.4%, comparable store unit sales had decreased 6.3%, wholesale units had decreased 2.2%, and that net earnings per diluted share of $0.64 compared to $0.85 a year ago. The Company also disclosed disappointing second quarter net income of about $95.4 million, down from $132.8 million over the prior year. Subsequently, on November 6, 2025, the Company disclosed the unexpected departure of its CEO and a weak preliminary Q3 2025 outlook.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws.

KSF’s investigation is focusing on whether CarMax’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of CarMax shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.