NEW ORLEANS, March 26, 2021 /PRNewswire/ — Kahn Swick & Foti, LLC («KSF») and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have until May 21, 2021 to file lead plaintiff applications in a securities class action lawsuit against Vroom, Inc. (NasdaqGS: VRM), if they purchased the Company’s securities between June 9, 2020 and March 3, 2021, inclusive (the «Class Period»). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Vroom and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-vrm/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 21, 2021.
About the Lawsuit
Vroom and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 3, 2021, post-market, the Company announced its Q4 and Full Year 2020 financial results, disclosing that fourth quarter «Ecommerce Vehicle gross profit per unit decreased 13.1% to $878, driven primarily by lower sales margins, partially offset by improvements in inbound logistics and reconditioning costs per unit» as well as a fourth quarter increase in net loss from 41.9% to $60.7 million.
On this news, shares of Vroom plummeted $12.29 per share, or 27.9%, to close at $31.61 per share on March 4, 2021, on unusually heavy trading volume.
The case is Zawatsky v. Vroom, Inc., et al., 21-cv-02477.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC