San Diego, CA -- (SBWIRE) -- 08/03/2015 -- The Shareholders Foundation announces that an investigation for investors in NASDAQ:TRUE shares concerning potential breaches of fiduciary duties by certain TrueCar directors and officers that caused damages to NASDAQ:TRUE shareholders.

Investors who are current long term investors in TrueCar Inc (NASDAQ:TRUE) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in TrueCar Inc (NASDAQ:TRUE stocks follows a lawsuit filed recently against TrueCar Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:TRUE stocks, concerns whether certain TrueCar officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, 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 May 20, 2015, an article was published that stated that the California New Car Dealers Association filed a lawsuit against the fast-growing TrueCar auto sales service, claiming TrueCar Inc violates various laws that govern car sales in the state. The article also said that the lawsuit, filed in Los Angeles County Superior Court, claimed that TrueCar Inc acts as a dealer and broker in car sales transactions but doesn't have the proper licensing for the business. TrueCar Inc issued a statement on May 20, 2015, saying that it is confident it can demonstrate the compliance of its business model with California law. Shares of TrueCar Inc (NASDAQ:TRUE) declined on May 21, 2015, to $13.47 per share.

Those who purchased shares of TrueCar Inc (NASDAQ:TRUE) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com