Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Vroom, Inc.
NEW YORK, April 07, 2021 (GLOBE NEWSWIRE) – Bernstein Liebhard, a nationally recognized investor rights law firm, is reminding investors of the deadline to file a lead plaintiff motion in a class action lawsuit filed on behalf of investors who bought or acquired the securities of Vroom, Inc. (“Vroom” or the “Company”) (NASDAQ: VRM) from November 11, 2020 through March 3, 2021 (the “Class Period”). The lawsuit filed in the U.S. District Court for the Southern District of New York alleges violations of the Securities Exchange Act of 1934.
If you Vroom securities purchased and / or wish to discuss your statutory rights and options Please visit Vroom Shareholder’s class action lawsuit or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
The complaint alleges that throughout the class period, Defendants made materially false and / or misleading statements and did not communicate anything to investors: (1) Vroom has failed to demonstrate that it was able to control the growth of its sales force and to scale to meet demand for its products; (2) that the company was, as a result, forced to discount obsolete inventory to move through its retail channels or was liquidated through its wholesale channels; (3) As a result, it was reasonably likely that the e-commerce unit gross profit decreased. and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and / or unfounded.
On March 3, 2021, after the market closed, Vroom announced its fourth quarter and full year 2020 financial results in a press release. In it, the company reported that unit gross profit for e-commerce vehicles decreased 13.1% to $ 878 in the fourth quarter, mainly due to lower sales margins, partly due to improvements in inbound logistics and overhaul costs were balanced per unit. “Vroom also reported that its for the fourth quarter[n]The loss increased 41.9% to $ 60.7 million. In the news, the company’s share price fell $ 12.29 per share, or 27.9%, to close at $ 31.61 per share on March 4, 2021 in an unusually high trading volume
If you want to serve as the lead plaintiff, you must transfer the court no later than May 21, 2021. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. Your ability to partake in a recovery does not require you to be the lead plaintiff. If you don’t take action, you may remain an absent class member.
If you Vroom securities purchased and / or wish to discuss your statutory rights and options Please visit https://www.bernlieb.com/cases/vroominc-shareholder-class-action-lawsuit-stock-fraud-383/apply/ or contact Matthew E. Guarnero toll-free at (877) 779-1414 or MGuarnero@bernlieb.com
Since 1993, Bernstein Liebhard LLP has collected more than $ 3.5 billion for its clients. In addition to representing individual investors, the firm has been hired by some of the country’s largest public and private pension funds to monitor their assets and litigate on their behalf. Because of its litigation success with hundreds of lawsuits and class actions, the firm has been featured on the National Law Journal’s “Hot List” thirteen times and on The Legal 500 for ten consecutive years.
LAWYER. © 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The attorney responsible for this Connecticut state complaint is Michael S. Bigin. Past results do not guarantee or forecast a similar result with respect to future matters.
Matthew E. Guarnero
Bernstein Liebhard LLP