NEW YORK, May 10, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against TrueCar, Inc. ("TrueCar " or the "Company") (NASDAQ:TRUE) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired TrueCar securities between February 16, 2017 and November 6, 2017, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/true.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially 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.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/true or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in TrueCar you have until June 1, 2018 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com