NEW YORK, May 11, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Sonic Automotive, Inc. («Sonic» or the «Company») (NYSE: SAH). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Sonic and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 7, 2020, news sources reported that the Company’s Chief Executive Officer («CEO»), David Bruton Smith, had been arrested and charged with felony assault by strangulation and misdemeanor charges of false imprisonment, assault on a female, and interfering with emergency communication. Shortly thereafter, the Company’s Board of Directors issued a statement affirming that the Company «remains steadfast in its support of [its] CEO.»
Then, on March 1, 2021, news sources reported that Smith had been indicted by a Mecklenburg County, North Carolina grand jury on all four charges related to the October 2020 arrest.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP