SANTA MONICA, Calif., Feb. 26, 2015 (GLOBE NEWSWIRE) -- Scott Painter, chief executive officer and founder of TrueCar, Inc. (Nasdaq:TRUE), purchased a total of 70,000 shares in two open market transactions this week as disclosed in a Form 4 filed by Mr. Painter with the Securities and Exchange Commission.
"We're pleased that Scott is making this statement of support for TrueCar," says Steven Dietz, TrueCar's Lead Independent Director and a Partner at Upfront Ventures. "Upfront is excited about TrueCar's long-term trajectory, and we expect to hold our 10 million share position for quite some time."
Painter continues to rank among the company's top shareholders. Following the purchase he controls approximately 10.8 million shares of TrueCar common stock, including exercisable stock options, which represent more than 12 percent of the company's outstanding shares.
"I believe strongly in the long-term prospects for this company and want to participate financially in its success alongside our other stockholders," Painter said.
The Form 4 filing can be found at: https://www.sec.gov/Archives/edgar/data/1320032/000114036115008820/xslF345X03/doc1.xml
About TrueCar
TrueCar, Inc. (Nasdaq:TRUE), the negotiation-free car buying and selling mobile marketplace, gives consumers transparent insight into what others paid and access to guaranteed savings off MSRP from TrueCar Certified Dealers. TrueCar's network of more than 10,000 trusted Certified Dealers is committed to providing upfront pricing information and a hassle-free buying experience. TrueCar powers car-buying programs for some of the largest U.S. membership and service organizations, including AARP, American Express, AAA and USAA. Not all program features are available in all states. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information, go to www.truecar.com. Follow us on Facebook or Twitter.