VRM - Moore Kuehn PLLC Encourages Investors of Vroom Inc. to Contact Law Firm
New York, New York--(Newsfile Corp. - September 20, 2021) - Moore Kuehn, PLLC, a securities law firm located on Wall Street, is investigating potential claims involving directors and officers regarding possible breaches of fiduciary duties related to whether insiders caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:
• Vroom, Inc. (NASDAQ: VRM)
(1) Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) as a result, the ecommerce gross profit per unit was reasonably likely to decline; and (4) as a result of the foregoing, positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On March 3, 2021, post-market, the Company announced its Q4 and Full Year 2020 financial results, disclosing that fourth quarter "Ecommerce Vehicle gross profit per unit decreased 13.1% to $878, driven primarily by lower sales margins, partially offset by improvements in inbound logistics and reconditioning costs per unit" as well as a fourth quarter increase in net loss from 41.9% to $60.7 million. On this news, shares of Vroom plummeted $12.29 per share, or 27.9%, to close at $31.61 per share on March 4, 2021, on unusually heavy trading volume.
If you own VRM please contact Justin Kuehn, Esq. by email at jkuehn@moorekuehn.com or telephone at (212) 709-8245. There is no cost to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers.
Please visit http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/
Attorney advertising. Prior results do not guarantee similar outcomes.
Moore Kuehn, PLLC
Justin Kuehn, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
jkuehn@moorekuehn.com
(212) 709-8245
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97024