TrueCar Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court for the Central District of California against TrueCar Inc. (“TrueCar”) (NASDAQ: TRUE) and several officers and directors for acts taken during the period of May 16, 2014 and May 20, 2015 (the “Class Period”).

Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of TrueCar. If you are an affected TrueCar shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at [e-mail], Patrick Powers at Powers Taylor LLP via email at [e-mail], or call toll free at [phone]. There is no cost or fee to you.

According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants made false and/or misleading statements and/or failed to disclose that its business practices violated unfair competition and deceptive trade practice laws. Also, the complaint alleges that TrueCar acts as a dealer and broker in car sales transactions without proper licensing. According to the complaint, these violations caused TrueCar’s financial statements to be materially false and misleading at all relevant times.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.