Carvana Co., its top executives, and underwriters won a US judge’s dismissal of a shareholder lawsuit alleging that the e-commerce car dealer downplayed issues with its growth strategy.
Shareholders in the online used car retailer alleged that the company failed to disclose the mounting costs and complexities of operations, but the proposed class action didn’t adequately show which disclosures were misleading, according to the order filed Thursday in US District Court for the District of Arizona.
Carvana touted its status as a high-quality buyer that closely assesses used vehicles, overstating the sustainability of its growth model, according to the ...
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