NEW YORK, Sept. 03, 2021 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of stockholders of CarLotz, Inc., DiDi Global Inc., and James River Group Holdings, Ltd. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.
CarLotz, Inc. (“CarLotz” or the “Company”) (NASDAQ: LOTZ)
Class Period: December 30, 2020 to May 25, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: September 7, 2021
The lawsuits alleges throughout the Class Period, Defendants made materially false and/or misleading statements, and also failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made material misrepresentations concerning the following: (1) that, due to a surge in inventory during the second half of fiscal 2020, CarLotz was experiencing a “logjam” resulting in slower processing and higher days to sell; (2) that, as a result, the Company’s GPU would be negatively impacted; (3) that, to minimize returns to the corporate vehicle sourcing partner responsible for more than 60% of CarLotz’s inventory, the Company was offering aggressive pricing; (4) that, as a result, CarLotz’s GPU forecast was likely inflated; (5) that this Company’s corporate vehicle sourcing partner would likely pause consignments to the Company due to market conditions, including increasing wholesale prices; and (6) that, as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
For additional information on the CarLotz lawsuits please visit this website.
DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI)
Class Period: June 27, 2021 to July 21, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: September 7, 2021
The lawsuits allege that the Registration Statement was materially false and misleading and omitted to state material adverse facts. Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that DiDi’s apps did not comply with applicable laws and regulations governing privacy protection and the collection of personal information; (2) that, as a result, the Company was reasonably likely to incur scrutiny from the Cyberspace Administration of China (“CAC”); (3) that the CAC had already warned DiDi to delay its IPO to conduct a self-examination of its network security; (4) that, as a result of the foregoing, DiDi’s apps were reasonably likely to be taken down from app stores in China, which would have an adverse effect on its financial results and operations; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For additional information on the DiDi lawsuits please visit this website.
James River Group Holdings, Ltd. (“James River” or the “Company”) (NASDAQ: JRVR)
Class Period: August 1, 2019 to May 5, 2021
Pending Court: U.S. District Court for the Eastern District of Virginia
Lead Plaintiff Deadline: September 7, 2021
The lawsuit alleges throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) James River had not adequately reserved for its Uber policies; (2) James River was using an incorrect methodology for setting reserves that materially understated its true exposure to Uber claims; (3) as a result, the Company was forced to increase its unfavorable reserves in subsequent quarters, even after cancelling the Uber policies; and (4) as a result of the foregoing, Defendants’ statements about James River’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
For additional information on the James River lawsuit please visit this website.
About Kirby McInerney LLP:
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
[email protected]
www.kmllp.com
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