San Diego, CA -- (SBWIRE) -- 09/14/2015 -- Certain directors of TrueCar Inc are under investigation concerning potential wrongdoing. The investigation for investors in NASDAQ:TRUE shares concerns potential breaches of fiduciary duties by certain TrueCar directors.

Shares of TrueCar Inc (NASDAQ:TRUE) declined from $23.95 per share in late 2014 to as low as $4.01 per share on August 24, 2015.

Investors who purchased shares of TrueCar Inc (NASDAQ:TRUE) and currently hold any of those 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 concerns whether certain TrueCar directors breached their fiduciary duties and caused damage to the company and its shareholders.

TrueCar Inc currently faces a lawsuit over alleged securities laws violations. The plaintiff in that lawsuit 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.

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