Portnoy Law Firm Announces Class Action on Behalf of CarMax, Inc. Investors

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]