NEW YORK, July 20, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, a global investor rights firm, reminds purchasers of TrueCar, Inc. (NASDAQ:TRUE) common stock from May 16, 2014 through May 20, 2015, all dates inclusive (the "Class Period") of the important July 27, 2015 lead plaintiff deadline in the class action. The lawsuit seeks to recover investors' losses under the federal securities laws.
To join the TrueCar class action, visit the firm's website at http://www.rosenlegal.com/cases-625.html, or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The complaint alleges that defendants during the Class Period made false and/or misleading statements, and failed to disclose material adverse facts about TrueCar's business, operations, prospects and performance. On March 9, 2015, a complaint was filed in Federal Court against TrueCar claiming that car dealers have been injured by the TrueCar's business practices which violated unfair competition and deceptive trade practice laws. Then, on May 20, 2015, a lawsuit was filed against TrueCar in Los Angeles County Superior Court, claiming that TrueCar violates various laws that govern car sales in the state including allegations that the company acts as a dealer and broker in car sales transactions without proper licensing. This adverse news caused TrueCar's share price to drop markedly, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 27, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to the firm's website at http://www.rosenlegal.com/cases-625.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.