NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong notifies investors of an investigation concerning whether TrueCar, Inc. (“TrueCar” or the “Company”) (NASDAQGS:TRUE) violated federal securities laws.
Click here to learn about the case: http://docs.wongesq.com/TRUE-Info-Request-Form-1874. There is no cost or obligation to you.
On November 6, 2017, TrueCar issued its third quarter 2017 financial results and reported third quarter revenue of only $82.4 million. During the conference call that followed, the Company attributed the unexpected sales miss, in part, to the fact that its channel partner USAA had undergone a significant website redesign which impacted traffic and close rates. As a result, TrueCar experienced a 5% decline in unit sales from USAA during the quarter. Following this news, TrueCar’s shares fell more than 35% to close at $10.58 per share on November 7, 2017, significantly lower than the Offering price of $16.50 per share on April 27, 2017. Then on February 2, 2018, TrueCar disclosed the unexpected resignation of its Chief Financial Officer, Michael Guthrie, for personal reasons effective as of the prior day.
To learn more about the investigation of TrueCar contact Vincent Wong, Esq. either via email vw@wongesq.com, by telephone at 212.425.1140, or visit http://docs.wongesq.com/TRUE-Info-Request-Form-1874.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
