Core Points - CarMax Inc. shares dropped over 10% in premarket trading following the unexpected resignation of CEO Bill Nash [1] - David McCreight has been appointed as interim CEO, while Tom Folliard takes on the role of interim executive chair [2] - The board aims to enhance sales, profitability, and reduce costs during this transitional period, acknowledging that recent results do not reflect the company's potential [3] Company Performance - CarMax has faced significant challenges this year, with its stock price declining approximately 50% in 2025, contrasting with other car retailers that have seen stock increases [4]

CarMax Announces Leadership Changes Share RICHMOND, Va.--(BUSINESS WIRE)--CarMax, Inc. (NYSE: KMX) ("CarMax†or the "Company†) today announced leadership changes to strengthen its business. David McCreight, a member of the Board of Directors (the "Board†), and proven retail business leader and brand strategist, has been named Interim President and Chief Executive Officer. Concurrently with Mr. McCreight's appointment, current Chair of the Board, Tom Folliard, an executive with a 30-year history with CarM ...

Core Points - ClaimsFiler reminds investors of the deadline to file lead plaintiff applications in a class action lawsuit against CarMax, Inc. for securities purchased between June 20, 2025, and September 24, 2025 [1] - The lawsuit alleges that CarMax and certain executives failed to disclose material information, violating federal securities laws [3] Financial Performance - CarMax reported a 5.4% decrease in retail unit sales, a 6.3% decrease in comparable store unit sales, and a 2.2% decrease in wholesale units for the second quarter of fiscal year 2026 [3] - Net earnings per diluted share were $0.64, down from $0.85 a year ago [3] Market Reaction - Following the announcement of the financial results, CarMax's share price fell by $11.5, or 20.07%, closing at $45.60 per share on September 25, 2025 [4] Legal Information - The case is titled Cap v. CarMax, Inc., No. 25-cv-03602, and is pending in the United States District Court for the District of Maryland [4]

Core Viewpoint - CarMax, Inc. is facing a class action lawsuit due to alleged misrepresentation of its financial health and demand for used cars during the period from March 5, 2024, to October 8, 2025 [1][3] Financial Performance - CarMax reported disappointing financial results for Q2 of fiscal year 2026, with a net income of approximately $95.4 million, down from $132.8 million in the previous year [3] - The company experienced a 5.4% decline in retail used unit sales, a 6.3% decline in comparable store used unit sales, and a 2.2% decline in wholesale units [3] - The decline in sales was attributed to a "pull forward" in demand due to the announcement of U.S. tariffs on cars, which led to customers purchasing vehicles before the tariffs took effect [3] Stock Market Reaction - Following the announcement of disappointing financial results, CarMax's stock price fell by $11.45 per share, approximately 20%, from $57.05 on September 24, 2025, to $45.60 on September 25, 2025 [3] Legal Context - Investors who purchased CarMax securities during the class period have until January 2, 2025, to file a lead plaintiff motion [1] - The Portnoy Law Firm is representing investors in this class action and is offering complimentary case evaluations [2][4]

Core Viewpoint - Rosen Law Firm has filed a class action lawsuit on behalf of CarMax, Inc. investors for securities purchased between June 20, 2025, and September 24, 2025, due to alleged misleading statements regarding the company's growth prospects [1][5]. Group 1: Lawsuit Details - The lawsuit claims that CarMax's defendants overstated the company's growth prospects, attributing earlier growth in the 2026 fiscal year to temporary factors related to customer behavior influenced by tariff speculation [5]. - Investors are encouraged to join the class action, with the deadline to serve as lead plaintiff set for January 2, 2026 [1][3]. Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting its own success in recovering significant amounts for investors [4]. - The firm has been recognized for its leadership in securities class action settlements, achieving notable recoveries, including over $438 million in 2019 [4].

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. for allegedly misleading investors about its growth prospects during the fiscal year 2026, following disappointing financial results that led to a significant drop in stock price [1][2][3]. Group 1: Allegations and Financial Impact - CarMax's stock price fell by $11.5 per share, or 20.07%, closing at $45.60 on September 25, 2025, after the company reported disappointing second-quarter results for fiscal year 2026 [2]. - The following day, the stock experienced an additional decline of 1.62%, closing at $44.86 [2]. - Plaintiffs claim that CarMax overstated its growth prospects, attributing earlier growth to temporary factors such as customer speculation regarding tariffs [3]. Group 2: Class Action Participation - Shareholders interested in serving as lead plaintiffs must submit their papers to the court by January 2, 2026 [4]. - Participation in the class action is not required to be eligible for recovery; shareholders can remain absent class members if they choose [4]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is won [5].

Core Viewpoint - The Law Offices of Frank R. Cruz is encouraging shareholders of CarMax, Inc. (KMX) to inquire about a potential securities fraud class action lawsuit [1] Group 1 - The law firm is actively seeking shareholders who may have been affected by the alleged securities fraud [1] - The announcement indicates a growing concern regarding the company's financial practices and transparency [1] - Shareholders are urged to gather information and consider their legal options in light of the potential class action [1]

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired CarMax, Inc. ("CarMax†or the "Company†) (NYSE: KMX) securities between June 20, 2025 and September 24, 2025, inclusive (the "Class Period†). CarMax investors have until January 2, 2026 to file a lead plaintiff motion. IF YOU SUFFERED A LOSS ON YOUR CARMAX, I. ...

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. for alleged violations of federal securities laws during the specified class period from June 20, 2025, to September 24, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that CarMax's executives made false and misleading statements regarding the company's growth prospects, which were overstated due to temporary factors related to customer behavior influenced by tariff speculation [3]. - The complaint alleges that these misleading statements resulted in material misrepresentation about CarMax's business operations and future prospects, leading to investor damages when the truth was revealed [3]. Group 2: Class Action Participation - Investors who purchased CarMax securities during the class period are encouraged to join the lawsuit, with a deadline of January 2, 2026, to request appointment as lead plaintiff [4]. - Participation in any recovery does not require serving as the lead plaintiff, allowing more investors to potentially benefit from the outcome [4]. Group 3: Legal Representation - The law firm Bronstein, Gewirtz & Grossman operates on a contingency fee basis, meaning they will only collect fees if the lawsuit is successful, thus minimizing upfront costs for investors [5]. - The firm has a history of recovering substantial amounts for investors in similar cases, indicating a strong track record in securities fraud class actions [6].

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. and certain senior executives for securities fraud following a significant stock drop due to potential violations of federal securities laws [1][2]. Group 1: Lawsuit Details - Investors have until January 2, 2025, to request to lead the case, which is pending in the U.S. District Court for the District of Maryland [2]. - The lawsuit asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of CarMax investors [2]. Group 2: Reasons for the Lawsuit - CarMax has been accused of misleading investors regarding the demand for its cars, which was allegedly boosted by U.S. tariffs, leading to a temporary increase in sales [3]. - The firm is also investigating whether CarMax adequately assessed or reserved for its portfolio of car loans [4]. Group 3: Financial Performance and Stock Impact - On September 25, 2025, CarMax reported disappointing financial results for Q2 FY2026, including a 5.4% decline in retail used unit sales, a 6.3% decline in comparable store used unit sales, and a 2.2% decline in wholesale units [5]. - The net income for the second quarter was approximately $95.4 million, down from $132.8 million the previous year, attributed to a "pull forward" in demand due to tariff announcements [5]. - Following the financial report, CarMax's stock price dropped by $11.45 per share, or roughly 20%, from $57.05 on September 24, 2025, to $45.60 on September 25, 2025 [6].