BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Carvana Co. (“Carvana” or the “Company”) (NYSE: CVNA) investors concerning the Company’s possible violations of federal securities laws.
On May 16, 2022, after the market closed, Automotive News reported that Carvana’s license had been suspended in Illinois “because the company failed to properly transfer titles for vehicles it sold and misused out-of-state temporary registration permits.” Illinois Secretary of State Police had “opened an investigation into consumer complaints about Carvana in February,” spanning “about 90 signed complaints.”
On this news, Carvana’s stock fell $3.35, or 8.7%, over the next two consecutive trading days to close at $35.05 on May 18, 2022, thereby injuring investors.
If you purchased Carvana securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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