{"id":512083,"date":"2021-07-12T16:49:37","date_gmt":"2021-07-12T20:49:37","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/"},"modified":"2021-07-12T16:49:37","modified_gmt":"2021-07-12T20:49:37","slug":"lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/","title":{"rendered":"LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc."},"content":{"rendered":"<div class=\"mw_release\">\n<p>NEW YORK, July  12, 2021  (GLOBE NEWSWIRE) &#8212; Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of CarLotz, Inc. (&#8220;CarLotz&#8221; or the &#8220;Company&#8221;) (NASDAQ: LOTZ) from December 30, 2020 through May 25, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Exchange Act of 1934.<\/p>\n<p>If you\u00a0<strong>purchased CarLotz securities, and\/or would like to discuss your legal rights and options<\/strong>\u00a0please visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=DrqiPM8QrJnXZltZ-oDTs-kyXfcpC8MIEvynAgwXrffmtjQwhAVDj_rmaJ1C3RP96OEodPmQFUu8zZu9TXPcr2BbT5ssGx0DtsXu1O_7XsKJDtDglF6a5aW9_RnnMvojBIf8XveYLBOvH0mNc5-Cy0IslQfY5JvSCkQvuK5VZ5TqrNOYnBbiikZngjyMtcs4A-KDzGw4ny8Fs-UCkKD4sL8mzVGoEP4z6IMSslrI0V0=\" rel=\"nofollow noopener\" target=\"_blank\">CarLotz Shareholder Class Action Lawsuit<\/a>\u00a0or contact\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=PcpaMS3f8BTU23q5x8mzT3gu3XQXzWndX1dTfi_MU4pH6cp38sy_7uYrfUUoO1MuaFdgP76QgAVUyDq2jaEv6A==\" rel=\"nofollow noopener\" target=\"_blank\">Noah Wiesner<\/a>\u00a0toll free at\u00a0<strong>(877) 779-1414<\/strong>\u00a0or\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=75aZNtak9nbym6Q2nROzSqA5xbixkmlWzs_KOWwiqRT5HtqrqR4Fkg8N6IWYKhSBODaMgkn1N4Rs-JzbfTV1WJXegqiS-fHMm_us3aHPIy4=\" rel=\"nofollow noopener\" target=\"_blank\">nwiesner@bernlieb.com<\/a><\/p>\n<p>The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements regarding the Company\u2019s business, operations, and prospects. Specifically, defendants made misrepresentations concerning the following: (i) that, due to a surge in inventory during the second half of fiscal 2020, CarLotz was experiencing a \u201clogjam\u201d resulting in slower processing and higher days to sell; (ii) that, as a result, the Company\u2019s gross profit per unit would be negatively impacted; (iii) that, to minimize returns to the corporate vehicle sourcing partner responsible for more than 60% of CarLotz\u2019s inventory, the Company was offering aggressive pricing; (iv) that, as a result, CarLotz\u2019s gross profit per unit forecast was likely inflated; (v) that this Company\u2019s corporate vehicle sourcing partner would likely pause consignments to the Company due to market conditions, including increasing wholesale prices; and (vi) as a result, defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially false and\/or lacked a reasonable basis.<\/p>\n<p>On March 15, 2021, CarLotz announced its fourth quarter and full year 2020 financial results. During a related conference call, the Company stated that gross profit and gross profit per unit (\u201cGPU\u201d) \u201cwere softer than . . . expected\u201d due to \u201cthe surge in inventory during the quarter and the resulting lower retail unit profitability.\u201d CarLotz also reported that the additional inventory \u201ccreated a logjam that resulted in slower processing and higher days to sell. On this news, the Company\u2019s stock price fell $0.79, or 8.5%, to close at $8.45 per share on March 16, 2021.<\/p>\n<p>On May 10, 2021, after the market closed, CarLotz announced its first quarter 2021 financial results revealing that gross profit per unit fell below expectations. In particular, the Company had expected retail GPU between $1,300 and $1,500, but reported $1,182. On this news, the Company\u2019s stock price fell $0.94, or 14%, to close at $5.57 per share on May 11, 2021.<\/p>\n<p>Then, on May 26, 2021, before the market opened, CarLotz announced an update to its profit-sharing sourcing partner arrangement. Specifically, CarLotz stated that its \u201cprofit-sharing corporate vehicle sourcing partner informed the Company that, in light of current wholesale market conditions, it has paused consignments to the Company.\u201d Moreover, this partner \u201caccounted for more than 60% of the cars sold and sourced\u201d during the first quarter 2021. On this news, the Company\u2019s stock price fell $0.70, or 13.4%, to close at $4.51 per share on May 26, 2021.<\/p>\n<p>If you wish to serve as lead plaintiff, you must move the Court no later than September 7, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn\u2019t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.<\/p>\n<p>If you\u00a0<strong>purchased CarLotz securities, and\/or would like to discuss your legal rights and options<\/strong>\u00a0please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=LdjYShnZcnBx6c27Bm1AK4E79_zUcmCBwtfuC6IszHhOp1L3SsTJ6DdNOOoQ_GuNTVX4FcJO1LEjtVedvhmTMkFQCjcc5I2GUsaHsLRJ65SQg6j8gJ_5ZBL76QWZNjRlKFDg-rVb683vFahNnPxgeUQsJpv78E38epDRan3n7NqcN6-m34Z8z54-llxlQD-2oFFuM4ComvYCaWDRhdD1MI1rxSIKPYs84SpvhyBElynCDlOdiQQsJZztMgY2ZcvL-4zNQmggeX6nYEGtMEdbAODX8QUy4ZqkHqUsTra4pqU=\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/www.bernlieb.com\/cases\/carlotz-lotz-shareholder-class-action-lawsuit-fraud-stock-412\/apply\/<\/a> or contact\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=PcpaMS3f8BTU23q5x8mzTwH5oxVjKP8n4td-FZY8Y_QSZ342tEmQutkrIiZSKDADqvP8u-Nu1PHKyWum8m0OwQ==\" rel=\"nofollow noopener\" target=\"_blank\">Noah Wiesner<\/a>\u00a0toll free at\u00a0<strong>(877) 779-1414<\/strong>\u00a0or\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=75aZNtak9nbym6Q2nROzSqA5xbixkmlWzs_KOWwiqRSE2l1bSMZkxm9mz7SGFpkH9_TpoKkfEZONYC81Y2rOeL54NqCLFgSPyzbhmtVEc8g=\" rel=\"nofollow noopener\" target=\"_blank\">nwiesner@bernlieb.com<\/a><\/p>\n<p>Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal\u2019s \u201cPlaintiffs\u2019 Hot List\u201d thirteen times and listed in The Legal 500 for ten consecutive years.<\/p>\n<p>ATTORNEY ADVERTISING. \u00a9 2021 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.<\/p>\n<p>Contact Information<\/p>\n<p>Noah Wiesner<br \/>Bernstein Liebhard LLP<br \/>https:\/\/www.bernlieb.com<br \/>(877) 779-1414<br \/>Nwiesner@bernlieb.com<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI3OTA4MCM0MjkzNTM3IzIwMjkzNDk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/320bfb93-f18a-4467-a105-ab62c8b973f3\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, July 12, 2021 (GLOBE NEWSWIRE) &#8212; Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of CarLotz, Inc. (&#8220;CarLotz&#8221; or the &#8220;Company&#8221;) (NASDAQ: LOTZ) from December 30, 2020 through May 25, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Exchange Act of 1934. If you\u00a0purchased CarLotz securities, and\/or would like to discuss your legal rights and options\u00a0please visit\u00a0CarLotz Shareholder Class Action Lawsuit\u00a0or contact\u00a0Noah Wiesner\u00a0toll free at\u00a0(877) 779-1414\u00a0or\u00a0nwiesner@bernlieb.com The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc.&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-512083","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, July 12, 2021 (GLOBE NEWSWIRE) &#8212; Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of CarLotz, Inc. (&#8220;CarLotz&#8221; or the &#8220;Company&#8221;) (NASDAQ: LOTZ) from December 30, 2020 through May 25, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Exchange Act of 1934. If you\u00a0purchased CarLotz securities, and\/or would like to discuss your legal rights and options\u00a0please visit\u00a0CarLotz Shareholder Class Action Lawsuit\u00a0or contact\u00a0Noah Wiesner\u00a0toll free at\u00a0(877) 779-1414\u00a0or\u00a0nwiesner@bernlieb.com The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements &hellip; Continue reading &quot;LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc.&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-12T20:49:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI3OTA4MCM0MjkzNTM3IzIwMjkzNDk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc.\",\"datePublished\":\"2021-07-12T20:49:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\\\/\"},\"wordCount\":760,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODI3OTA4MCM0MjkzNTM3IzIwMjkzNDk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\\\/\",\"name\":\"LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc. - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/","og_locale":"en_US","og_type":"article","og_title":"LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc. - Market Newsdesk","og_description":"NEW YORK, July 12, 2021 (GLOBE NEWSWIRE) &#8212; Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of CarLotz, Inc. (&#8220;CarLotz&#8221; or the &#8220;Company&#8221;) (NASDAQ: LOTZ) from December 30, 2020 through May 25, 2021 (the \u201cClass Period\u201d). The lawsuit filed in the United States District Court for the Southern District of New York alleges violations of the Exchange Act of 1934. If you\u00a0purchased CarLotz securities, and\/or would like to discuss your legal rights and options\u00a0please visit\u00a0CarLotz Shareholder Class Action Lawsuit\u00a0or contact\u00a0Noah Wiesner\u00a0toll free at\u00a0(877) 779-1414\u00a0or\u00a0nwiesner@bernlieb.com The complaint alleges that, throughout the Class Period, defendants made materially false and misleading statements &hellip; Continue reading \"LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc.\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-12T20:49:37+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI3OTA4MCM0MjkzNTM3IzIwMjkzNDk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc.","datePublished":"2021-07-12T20:49:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/"},"wordCount":760,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODI3OTA4MCM0MjkzNTM3IzIwMjkzNDk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/lotz-investor-alert-bernstein-liebhard-llp-announces-that-a-securities-class-action-lawsuit-has-been-filed-against-carlotz-inc\/","name":"LOTZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit Has Been Filed Against CarLotz, Inc. - 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