BOSTON, March 26, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, continues to investigate potential claims against TrueCar, Inc. (NASDAQ: TRUE) and certain of its officers for potential securities fraud. Investors who have lost money are encouraged to contact the firm for a free case evaluation.
On February 21, 2020, TrueCar’s common stock dropped by over 12% during intraday trading following the publication of a short thesis alleging the company is “uninvestible” due to legal and business risks – including potential liability relating to allegations of false advertising.
In addition, on February 20, 2020, TrueCar announced on that it had entered into a short-term agreement to extend its partnership with USAA Federal Savings Bank, which represents a third of TrueCar’s revenues. According to the short thesis, USAA had to give 120-days advance notice of its intent to renew – indicating that TrueCar knew that USAA was not renewing for a full term since October 2019 – a fact that was undisclosed to the investing public.
If you purchased or acquired shares of TrueCar common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at jake@blockesq.com, or at https://shareholder.law/true.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: jake@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com