BOULDER, Colo.--(BUSINESS WIRE)--The Shuman Law Firm announces that it is investigating potential claims against certain officers and directors of TrueCar, Inc. (“TrueCar” or the “Company”) (Nasdaq: TRUE). TrueCar is a Santa Monica, CA-based company which provides Internet-based information, technology, and communications products for new and used car pricing.
The Firm’s investigation relates to whether certain current and/or former senior officers and directors of TrueCar breached their fiduciary duties to the Company by allegedly causing the Company to violate unfair competition and deceptive trade practice laws and act as a dealer and broker in car sales transactions without proper licensing, in violation of various state laws that govern car sales. Allegations of these practices came to light in a lawsuit filed against TrueCar by the California New Car Dealers Association (“CNCDA”). TrueCar stockholders also filed suit against the Company and the Company’s former Chief Executive Officer (“CEO”) and current Chief Financial Officer (“CFO”) on May 27, 2015 for violation of the federal securities laws based upon the Company’s failure to disclose the course of conduct alleged by the CNCDA. Following the filing of these lawsuits, on August 6, 2015, TrueCar CEO Scott Painter announced his resignation from the Company.
If you currently own TrueCar common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 569-4531 or email Mr. Shuman at firstname.lastname@example.org or email Mr. Glenn at email@example.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.