America's Car-Mart, Inc. (CRMT) Investigation

The investigation is focused on the propriety of Car-Mart’s disclosures about risks to its business posed by tariffs.

More specifically, in mid-June 2025 (about 1 ½ months into its Q1 2026), Car-Mart assured investors that “[w]e’ve done a nice job navigating the impact of tariffs on pricing thus far, and the impact on the vintage of vehicles we procure has been relatively muted at around an increase of $300 per unit[]” and “this is very manageable.”

But on July 15, 2025, Car-Mart disclosed it would delay filing its annual report because "management identified the need to enhance disclosures related to loan modifications for borrowers experiencing financial difficulty."

On this news, Car-Mart’s stock price fell $3.12, or 5.2%, to close at $57.26 on July 15, 2025, thereby injuring investors.

Then, on July 30, 2025, the Company disclosed that it had "concluded that certain previously issued financial statements should no longer be relied upon," due to omissions in "disclosure related to loan modifications made to borrowers experiencing financial difficulty" including the "qualitative and quantitative information about the types of modifications utilized by the Company," "the financial effect of the modification by type of modification," "receivable performance in the 12 months after a modification." On this news, Car-Mart's stock price fell $3.70, or 7.5%, to close at $45.57 on July 30, 2025, thereby injuring investors further.

Finally, on September 4, 2025, Car-Mart released its first quarter fiscal 2026 financial results, revealing that "sales volumes declined 5.7% to 13,568 units compared to 14,391 in the prior year," which the Company attributed to "[prioritizing] booking the Company's strongest-performing customer rankings" and "vehicle quality aimed at controlling repair costs downstream and selling to a better credit quality customer." 

This news drove the price of Car-Mart shares down $8.14, or over 18%, on September 4, 2025.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the CRMT investigation about?

We are investigating whether Car-Mart may have misled investors about what it was seeing a month and a half into its Q1 related to tariff risks and procurement impacts.

WHAT SHOULD I DO?

I worked at CRMT. What should I do?

If you were an employee of CRMT, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in CRMT, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any CRMT investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.