Vroom Stock: Berger Montague Investigates Alleged Securities Fraud Claims Against Vroom, Inc. (VRM); Lead Plaintiff Deadline is May 21, 2021
Philadelphia, Pennsylvania--(Newsfile Corp. - April 1, 2021) - Berger Montague is investigating potential securities fraud claims against Vroom, Inc. ("Vroom" or the "Company") (NASDAQ: VRM) on behalf of investors who purchased Vroom securities between June 9, 2020 and March 3, 2021 (the "Class Period").
If you purchased Vroom securities during the Class Period, have questions concerning your rights or interests, or would like to discuss Berger Montague's investigation, please contact attorneys Andrew Abramowitz at email@example.com or (215) 875-3015, or Donnell Much at firstname.lastname@example.org or (215) 875-4667, or contact us at www.bergermontague.com/vroom.
According to a recently filed lawsuit, Vroom, an ecommerce platform for selling used cars, misled investors about its ability to convert increasing demand into sales in a profitable manner. On March 3, 2021, Vroom announced its financial results for fourth quarter and full year 2020 financial results and reported that Q4 gross profit per unit decreased 13.1% to $878 per unit, driven primarily by lower sales margins. Vroom also reported a net loss increase of 41.9% to $60.7 million for the quarter. During the accompanying earnings call, the defendants revealed that Vroom was suffering from serious sales and support bottlenecks which had severely constrained Vroom's growth and profits per vehicle.
Following this news, Vroom's stock price plummeted $12.29 per share - or 27.9% - to close at $31.61 per share on March 4, 2021.
If you purchased Vroom securities during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is May 21, 2021. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding Vroom are encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Donnell Much, Associate
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