Scott+Scott is investigating whether members of Carvana’s board of directors or senior management failed to manage Carvana in an acceptable manner, in breach of their fiduciary duties to Carvana, and whether Carvana and its shareholders have suffered damages as a result.
On January 2, 2025, Hindenburg Research issued a report titled: “Carvana: A Father-Son Accounting Grift For The Ages,” alleging that Carvana’s financial turnaround is a “mirage.” The report claimed to uncover “$800 million in loan sales to a suspected undisclosed related party, along with details on how accounting manipulation and lax underwriting have fueled temporary reported income growth – all while insiders cash out billions in stock.”
CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
600 W. Broadway, Suite 3300, San Diego, CA 92101
(844) 818-6982