An investigation for investors in CarLotz, Inc. (NASDAQ: LOTZ) shares over potential securities laws violations by CarLotz, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/09/2021 -- CarLotz, Inc is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of CarLotz, Inc. (NASDAQ: LOTZ), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by CarLotz, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Richmond, VA based CarLotz, Inc. operates as a consignment-to-retail used vehicle marketplace that provides its corporate vehicle sourcing partners and retail sellers of used vehicles.
On May 10, 2021, CarLotz, Inc. announced first quarter 2021 results, reporting amongst other things, GAAP earnings per share of -$0.15, missing consensus estimates of $0.01.
Then, on May 26, 2021, CarLotz, Inc. announced that its profit-sharing corporate vehicle sourcing partner had "paused consignments" to the Company. This partner accounted for more than 60% of cars sold and sourced by CarLotz.
Shares of CarLotz, Inc. (NASDAQ: LOTZ) declined from $12.7 per share on January 21, 2021, to as $4.06 per share on May 26, 2021.
Those who purchased shares of CarLotz, Inc. (NASDAQ: LOTZ) have certain options and should contact the Shareholders Foundation.
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