VRM - Gainey McKenna & Egleston Investigates Potential Claims On Behalf of Investors of Vroom Inc. (VRM)

NEW YORK, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating whether the directors and/or officers of Vroom, Inc. (“Vroom” or the “Company”) (NASDAQ: VRM) breached their fiduciary duties of loyalty, good faith and candor and whether the Company suffered substantial harm as a result.

According to a complaint filed by investors in the securities of the Company, the Company allegedly failed to disclose to investors that: (1) Vroom was unable to sell a significant portion of existing inventory as a result of inadequate sales personnel and overreliance on third-party sales support; (2) Vroom’s lack of adequate sales and support staff had resulted in severe growth constraints, degraded customer experience, lost sales opportunities and a greater than 10% increase in average days to sale for Vroom products; (3) Vroom had been forced to mark down and liquidate existing inventory at fire sale prices; and (4) as a result of the foregoing, the positive statements about Vroom’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you are an investor in Vroom securities and wish to discuss your rights or if you are aware of any facts relating to this investigation, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com .

Please visit our website at http://www.gme-law.com for more information about the firm.