Investors with losses are encouraged to contact the firm before May 21, 2021; click here to submit trade information
LOS ANGELES, May 11, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Vroom, Inc. (NASDAQ: VRM) investors that acquired shares between June 9, 2020 and March 2, 2021. Investors have until May 21, 2021 to seek an active role in this litigation.
It is alleged in this complaint that Vrom made materially misleading and/or false statements and failed to disclose that: (1) Vroom had not demonstrated that they were able to scale and control growth in respect to its salesforce, in order to meet demand for Vroom products; (2) Vroom was forced to discount aged inventory in order to move through their retail channels or to be liquidated in its wholesale channels, as a result; (3) Vroom’s ecommerce gross profit per unit was reasonably likely to decline as a result (4) consequently, Vroom’s positive statements about the their operations, business, and prospects were materially misleading and/or lacked a reasonable basis.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 21, 2021.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar