LOS ANGELES, CA / ACCESSWIRE / April 23, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against TrueCar, Inc. (''the Company'') (NASDAQ: TRUE) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between February 16, 2017 and November 6, 2017, inclusive (the ''Class Period'') are encouraged to contact the firm before June 1, 2018.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company issued false and/or misleading statements and/or failed to disclose that: (1) the largest source of TrueCar's revenue, the United States Automobile Association (''USAA''), had been planning significant changes to its website that would have a material adverse effect on the volume of purchases generated by USAA; (2) USAA made significant changes to its website that would have a material adverse effect on the volume of purchases generated by USAA; (3) the changes to USAA's website maintained by TrueCar caused a material adverse effect on the volume of purchases generated by USAA; and (4) as a result, defendants' statements about TrueCar's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis. When the truth was revealed to the investing public, shares dropped, causing shareholders harm.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
The Schall Law Firm