CARVANA INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates Carvana Co. Officers and Directors – CVNA

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NEW ORLEANS–(BUSINESS WIRE)–Former Louisiana Attorney General Charles C. Foti, Jr., Esq., a partner at the law firm Kahn Swick & Foti, LLC (“KSF”), announces that KSF has opened an investigation into Carvana Co (NYSE: CVNA).

From mid-2021 through 2022, the company has been the target of widespread complaints, regulatory reviews and litigation stemming from its business practices, including allegations that it failed to properly fulfill its obligations when selling and the transfer of permanent ownership to consumers returning their newly purchased vehicles. unable to drive legally, has misrepresented his authority to do so legally under various state motor vehicle laws, and routinely issues multiple temporary license tags in violation of state laws.

In December 2021, the company was sued in a consumer class action lawsuit alleging violations of the state’s Unfair and Deceptive Trade Practices Act for its delay in transferring permanent title to purchased automobiles, which prevented consumers from legally driving the vehicles they purchased. Recently, the court presiding over this case denied the company’s motion to dismiss the case, allowing it to move forward.

The Company was also sued in a securities class action for failing to disclose material information in violation of federal securities laws.

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

If you have information that could help KSF in its investigation, or if you have been a long-time Carvana shareholder and would like to discuss your legal rights, you can, at no obligation or cost to you, call toll-free 1- 877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]) or visit https://www.ksfcounsel.com/cases/nyse-cvna/ for find out more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.

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

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