SAN DIEGO, June 02, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of TrueCar Inc (Nasdaq:TRUE) over alleged Violations of Federal Securities Laws by TrueCar in connection with certain allegedly false and misleading statements.
Investors who purchased TrueCar Inc (Nasdaq:TRUE) shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org 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 March 9, 2015, a complaint was filed against TrueCar Inc alleging that car dealers were injured by TrueCar’s business practices which violated unfair competition and deceptive trade practice laws.
On May 20, 2015, the California New Car Dealers Association filed a lawsuit against the TrueCar, claiming TrueCar Inc violates various laws that govern car sales in the state of California including claims that TrueCar Inc acts as a dealer and broker in car sales transactions without proper licensing.
Shares of TrueCar Inc (TRUE) declined from as high as $23.95 per share in late 2014 to as low as $13.30 per share on May 11, 2015, respectively $13.47 per share on May 21, 2015.
Those who purchased TrueCar Inc (Nasdaq:TRUE) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at email@example.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 firstname.lastname@example.org 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
Source:Shareholders Foundation, Inc.