The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of TrueCar, Inc. (NASDAQ: TRUE) who purchased shares between February 16, 2017 and November 6, 2017. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the TRUE lawsuit alleges that (1) that the United Services Automobile Association (“USAA”) had been planning significant changes to its website that would have a material adverse effect on the volume of purchases generated by USAA; (2) that USAA made significant changes to its website that would have a material adverse effect on the volume of purchases generated by USAA; (3) that the changes to USAA's website maintained by TrueCar caused a material adverse effect on the volume of purchases generated by USAA; and (4) that, as a result of the foregoing, Defendants' statements about TrueCar’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
Shareholders have until June 1, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
Please fill out the form to learn more