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

Core Viewpoint - CarMax, Inc. is facing a class action lawsuit from investors who purchased securities during the specified class period, with allegations of misleading information regarding demand and financial performance [1][3]. Group 1: Legal Action - The Portnoy Law Firm is advising CarMax investors to join a class action lawsuit for those who bought securities between March 5, 2024, and October 8, 2025, with a deadline for filing a lead plaintiff motion set for January 2, 2025 [1]. - Investors can contact attorney Lesley F. Portnoy for a complimentary case evaluation and to discuss options for recovering losses [2]. Group 2: Company Performance - CarMax reported disappointing financial results for Q2 of fiscal year 2026, 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 [3]. - The company's net income for the second quarter was approximately $95.4 million, down from $132.8 million in the previous year, attributed to a "pull forward" in demand due to U.S. tariffs on cars [3]. - Following the announcement of these results, CarMax's stock price fell by $11.45 per share, or roughly 20%, from $57.05 on September 24, 2025, to $45.60 on September 25, 2025 [3]. Group 3: Market Context - CarMax had previously promoted strong and sustainable demand for its vehicles, which was allegedly inflated by short-term demand spikes due to tariff announcements [3]. - BFA Law is investigating whether CarMax adequately assessed or reserved for its portfolio of car loans, indicating potential issues in financial management [3].