San Diego, CA -- (SBWire) -- 07/27/2015 --The Shareholders Foundation announces that a deadline is coming up on July 27, 2015 in the lawsuit filed for investors of TrueCar Inc (NASDAQ:TRUE) over alleged securities laws violations by TrueCar.
Shares of TrueCar Inc (NASDAQ:TRUE) declined from $22.75 per share in December 2014 to as low as $6.43 per share on July 24, 2015.
Investors who purchased shares of TrueCar Inc (NASDAQ:TRUE) have certain options and there are strict and short deadlines running. Deadline: July 27, 2015. NASDAQ:TRUE stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The plaintiff claims that between May 16, 2014 and May 20, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that TrueCar Inc's business practices violated unfair competition and deceptive trade practice laws, that TrueCar Inc acts as a dealer and broker in car sales transactions without proper licensing, in violation of various States' laws that govern car sales, and that as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
On May 20, 2015, an article was published that stated that the California New Car Dealers Association filed a lawsuit against the fast-growing TrueCar auto sales service, claiming TrueCar Inc violates various laws that govern car sales in the state. The article also said that the lawsuit, filed in Los Angeles County Superior Court, claimed that TrueCar Inc acts as a dealer and broker in car sales transactions but doesn't have the proper licensing for the business. TrueCar Inc issued a statement on May 20, 2015, saying that it is confident it can demonstrate the compliance of its business model with California law. Shares of TrueCar Inc (NASDAQ:TRUE) declined on May 21, 2015, to $13.47 per share.
On July 23, 2015, TrueCar announced its preliminary results and adjusted guidance. Shares of TrueCar Inc (NASDAQ:TRUE) dropped from $11.10 per share on July 23, 2015, to as low as $6.43 per share on July 24, 2015.
Those who purchased shares of TrueCar Inc (NASDAQ:TRUE) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
TrueCar Inc (NASDAQ:TRUE) Shareholder Alert: Deadline in Lawsuit on July 27, 2015
A Deadline is coming up on July 27, 2015in the lawsuit for investors in TrueCar Inc (NASDAQ:TRUE) and NASDAQ:TRUE stockholders should contact the Shareholders Foundation.