CarMax Investigation Initiated: Kahn Swick & Foti, LLC Investigates the Officers and Directors of CarMax, Inc. - KMX

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into CarMax, Inc. (NYSE: KMX) (“CarMax” or the “Company”).

On September 25, 2025, the Company announced its second quarter Fiscal Year 2026 financial results, disclosing, among other things, that retail unit sales had decreased 5.4%, comparable store unit sales had decreased 6.3%, wholesale units had decreased 2.2%, and that net earnings per diluted share of $0.64 compared to $0.85 a year ago. The Company also disclosed disappointing second quarter net income of about $95.4 million, down from $132.8 million over the prior year. Subsequently, on November 6, 2025, the Company disclosed the unexpected departure of its CEO and a weak preliminary Q3 2025 outlook.

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws.

KSF’s investigation is focusing on whether CarMax’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of CarMax shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([e-mail]), or visit https://www.ksfcounsel.com/cases/nyse-kmx/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

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