NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of purchasers of Ferrari N.V. (NYSE:RACE) resulting from allegations that Ferrari may have issued materially misleading business information to the investing public.
On February 28, 2018, the Miami Herald reported that “Ferrari says it will stop rolling back odometers on fancy pre-owned cars.” According to the article, Ferrari North America notified dealers it would “no longer provide access codes that for years allowed an app called DEIS tester to make miles driven vanish from dashboards of Spiders, Californias and 488 GTBs.” The article further provides that a Ferrari internal memo stated the “odometer ‘reset to zero’ functionality was being removed,” as were instructions provided to technicians in Ferrari Workshop Manuals on how to roll back miles. On this news, shares of Ferrari fell $2.68 or over 2% to close at $121.53 per share on March 1, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Ferrari investors. If you purchased Ferrari, please visit the firm’s website at http://www.rosenlegal.com/cases-1303.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.