HENDERSONVILLE, TN / ACCESSWIRE / August 13, 2019 / The Law Offices of Timothy L. Miles, who has been leading the fight to protect shareholder rights for over 18 years, is investigating whether certain officers and directors of TrueCar, Inc. (TRUE) violated federal securities laws or otherwise failed to properly fulfill their fiduciary duties to the Company and its stockholders. TrueCar is an automotive pricing and information website for new and used car buyers and dealers.
Truecar Agrees to Pay $28.25 Million to Settle Securities Fraud Class Action
A shareholder class action complaint was filed against TrueCar on behalf of certain investors who purchased shares of the Company’s stock between February 16, 2017 and November 6, 2017. During this time period, shares of the Company’s stock traded as high as $21.00 per share. Among other things, the shareholder complaint alleges that TrueCar violated the federal securities laws by making a series of materially false and misleading statements to investors concerning the impact that extensive website changes were having on the Company business, operations, and financial results.
On August 24, 2018, an amended complaint was filed and on November 5, 2018, the defendants filed their motion to dismiss the case. On February 5, 2019, the court issued an order denying the defendants’ motion to dismiss the case. On July 3, 2019, the parties announced that they have reached an agreement in principle to settle the case and on August 2, 2019, a stipulation and agreement of settlement was filed with the court. The settlement will need approval by the court. Under the terms of the proposed settlement TrueCar has agreed to pay to investors $28.25 million.
The Law Offices of Timothy L. Miles Encourages Long-Term Truecar Shareholders to Contact the Firm
If you purchased Truecar securities before November 6, 2017 and continue to hold shares, 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 Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to firstname.lastname@example.org. If you inquire by email please include your mailing address, telephone number, the number shares owned and the date(s) you purchased these shares.
About Timothy L. Miles
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles maintains the AV Preeminent Rating by Martindale-Hubbell, their highest rating for both legal ability and ethics, and is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, is also a superb rated attorney by Avvo, and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Awards:
SOURCE: The Law Offices of Timothy L. Miles
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