TrueCar, Inc. (NASDAQ: TRUE)

DEFENDANT NAME: TrueCar, Inc.
STOCK SYMBOL: NASDAQ: TRUE
CASE NUMBER:
COURT: U.S. District Court for the Central District of California
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD: February 16, 2017 - November 6, 2017
LEAD PLAINTIFF DEADLINE: June 1, 2018
DATE FILED:
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:
510-725-3000 TRUE@hbsslaw.com

Hagens Berman Sobol Shapiro LLP alerts investors in TrueCar, Inc. (NASDAQ: TRUE) to the securities class action pending the U.S. District Court for the Central District of California and the June 1, 2018 Lead Plaintiff deadline.

If you purchased or otherwise acquired shares of TRUE between February 16, 2017 and November 6, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing TRUE@hbsslaw.com.

On November 6, 2017 Defendants announced TrueCar’s third quarter 2017 financial results.  They reported the Company missed its guidance of unit sales and in part attributed the shortfall to a website redesign by its largest affinity group marketing partner – USAA.

This news drove the price of TrueCar shares down $5.76, or about 35%, to close at $10.58 on November 7, 2017.

“TrueCar investors have suffered enormous losses,” said Hagens Berman partner Reed Kathrein.  “We’re focused on Defendants’ statements about TrueCar’s USAA channel and their knowledge of problems before November 6, 2017.”

Whistleblowers:  Persons with non-public information regarding TrueCar should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new 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, call Reed Kathrein at 510-725-3000 or email TRUE@hbsslaw.com.


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04/06/18: Investigation