PHOENIX (CN) — Attorneys for disgruntled Carvana investors rehashed arguments Thursday that the used car retailer caused massive drops of stock value through misleading statements regarding compliance with titling and inspection standards.
In a Phoenix courtroom, United Association National Pension Fund attorney Rachel Cocalis said the group has met all qualifications to certify the class of investors who lost money after Carvana’s dramatic market plummets, and argued the retailer has not severed the link between price impacts and the specific misrepresentations it’s accused of.
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