Carvana Co.‘s largest investor and father of the used car retailer’s CEO won again in a lawsuit accusing him of insider trading claims over the $3.6 billion in stock he sold amid state regulatory challenges and the Covid-19 pandemic.
The Delaware Supreme Court on Wednesday affirmed a lower court’s decision to dismiss the investor’s claims that Ernest Garcia II began unloading the stock before Carvana disclosed that its business could be hurt by its failure to comply with varying state motor vehicle title and registration laws.
A two-page order did not elaborate on the high court’s decision to uphold ...
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