Core Viewpoint - CarMax, Inc. is facing a class action lawsuit for securities fraud following a significant drop in stock price attributed to alleged violations of federal securities laws [1][3]. Group 1: Lawsuit Details - A class action lawsuit has been filed against CarMax and certain senior executives, with claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 [3]. - Investors have until January 2, 2026, to request to lead the case, which is pending in the U.S. District Court for the District of Maryland [3]. Group 2: Financial 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 [6]. - The net income for the second quarter was approximately $95.4 million, down from $132.8 million in the previous year [6]. Group 3: Stock Price Impact - Following the announcement of disappointing financial results on September 25, 2025, CarMax's stock price dropped by $11.45 per share, or roughly 20%, from $57.05 to $45.60 [7]. - The unexpected departure of CEO Bill Nash on November 6, 2025, along with a weak preliminary Q3 2025 outlook, led to an additional stock price drop of over 24% [7]. Group 4: Market Context - CarMax had previously promoted strong demand for its vehicles, which was allegedly boosted by customers purchasing cars ahead of U.S. tariffs [4]. - The lawsuit suggests that the company may not have accurately assessed or reserved for its portfolio of car loans, raising further concerns about its financial practices [5].

Core Viewpoint - An amended securities class action lawsuit has been filed against CarMax, Inc., expanding the class period to include purchases made between June 20, 2025, and November 5, 2025, with a lead plaintiff deadline set for January 2, 2026 [1]. Allegations Against Defendants - The complaint alleges that during the class period, defendants made false and misleading statements regarding CarMax's growth prospects, claiming that earlier growth was a temporary benefit due to customer speculation about tariffs [3]. - It is asserted that the positive statements made by defendants about the company's business and operations were materially misleading and lacked a reasonable basis [3]. Lead Plaintiff Process - CarMax investors have until January 2, 2026, to seek appointment as a lead plaintiff representative of the class, or they may choose to remain absent class members [4]. - The lead plaintiff is typically the investor or small group of investors with the largest financial interest and who are representative of the proposed class [4]. Firm Background - Kessler Topaz Meltzer & Check, LLP is known for prosecuting class actions and has recovered billions for victims of fraud and corporate misconduct [5].

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. and certain senior executives for securities fraud following a significant stock drop attributed to potential violations of federal securities laws [1][2]. Group 1: Lawsuit Details - Investors have until January 2, 2026, 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: Company Performance and Stock Impact - CarMax reported disappointing financial results for Q2 FY 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 [5]. - The company's net income for Q2 was approximately $95.4 million, down from $132.8 million the previous year, attributed to a "pull forward" in demand due to U.S. tariffs [5]. - Following the financial report, CarMax's stock dropped $11.45 per share, or roughly 20%, from $57.05 on September 24, 2025, to $45.60 on September 25, 2025 [6]. - An unexpected CEO departure on November 6, 2025, and a weak preliminary Q3 outlook led to an additional stock drop of over 24% [6]. Group 3: Investigations and Concerns - The law firm Bleichmar Fonti & Auld LLP is investigating the unexpected departure of CEO Bill Nash and whether CarMax adequately assessed its portfolio of car loans [4].

Core Points - The CarMax class action lawsuit has been initiated against CarMax, Inc. and certain executives for alleged violations of the Securities Exchange Act of 1934 during the class period from June 20, 2025, to November 5, 2025 [1][3] - Investors who suffered losses during this period can seek to be appointed as lead plaintiff by January 2, 2026 [1][6] Allegations - The lawsuit claims that CarMax recklessly overstated its growth prospects, attributing earlier growth in fiscal year 2026 to temporary factors related to customer behavior influenced by tariff speculation [3] - On September 25, 2025, CarMax reported a 5.4% decrease in retail unit sales and a 6.3% decrease in comparable store unit sales, with net earnings per diluted share dropping to $0.64 from $0.85 year-over-year, leading to a 20% drop in share price [4] - Following the termination of CEO William D. Nash on November 4, 2025, and the expectation of weak third-quarter sales, CarMax shares fell over 24% [5] Legal Process - The Private Securities Litigation Reform Act of 1995 allows any investor who purchased CarMax securities during the class period to seek lead plaintiff status, which involves directing the lawsuit on behalf of all class members [6] About the Law Firm - Robbins Geller Rudman & Dowd LLP is a leading law firm in securities fraud and shareholder litigation, having recovered over $2.5 billion for investors in 2024 alone [7]

Core Viewpoint - A class action securities lawsuit has been filed against CarMax, Inc. alleging securities fraud that affected shareholders between June 20, 2025, and September 24, 2025 [2][3] Group 1: Lawsuit Details - The lawsuit claims that CarMax's management made false statements regarding the company's growth prospects, suggesting that the growth in the 2026 fiscal year was misleadingly attributed to temporary factors such as customer speculation about tariffs [3] - The complaint asserts that the statements made by the defendants about CarMax's business operations and future prospects were materially false and lacked a reasonable basis during the relevant time [3] Group 2: Next Steps for Affected Shareholders - Shareholders who experienced losses in CarMax stock during the specified period are encouraged to seek information about their rights to recovery, with no cost or obligation to participate [4] Group 3: Legal Representation - Levi & Korsinsky LLP, a recognized securities litigation firm, has a strong track record of securing significant recoveries for shareholders and has been ranked among the top securities litigation firms in the United States for seven consecutive years [5]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against CarMax, Inc. due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by January 2, 2026 [1][3]. Financial Performance - CarMax reported a decrease in CarMax Auto Finance income by 11.2%, attributed to a provision for loan losses of $142.2 million in Q2 of fiscal 2026, compared to $112.6 million in the same period the previous year [4]. - The provision for loan losses included an increase of $71.3 million in estimated lifetime losses on existing loans, primarily due to worsening performance among the 2022 and 2023 vintages [4]. - Following the financial results announcement, CarMax's stock price fell by $11.45 per share, approximately 20%, closing at $45.60 per share on September 26, 2025 [4]. Legal Context - The complaint alleges that CarMax and its executives made false and misleading statements regarding the company's growth prospects, which were overstated due to temporary market conditions [3]. - Investors are encouraged to contact Faruqi & Faruqi for more information regarding the class action and to discuss their legal rights [1][5].

Core Viewpoint - A class action lawsuit has been filed against CarMax, Inc. and certain senior executives for securities fraud following a significant stock drop attributed to potential violations of federal securities laws [1][3]. Company Overview - CarMax, Inc. is a leading retailer of used cars, which has recently faced scrutiny due to disappointing financial results and allegations of misleading investors regarding demand for its vehicles [4][6]. Financial Performance - For the second quarter of fiscal year 2026, CarMax reported 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. The net income for the quarter was approximately $95.4 million, down from $132.8 million in the previous year [6]. - The stock price of CarMax fell by $11.45 per share, or roughly 20%, from $57.05 on September 24, 2025, to $45.60 on September 25, 2025, following the announcement of these disappointing results [7]. Legal Issues - The lawsuit claims violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, with investors encouraged to seek lead plaintiff status by January 2, 2026 [3]. - The unexpected departure of CEO Bill Nash on November 6, 2025, and a weak preliminary outlook for Q3 2025 further contributed to the decline in stock price, which dropped over 24% following this news [7].

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Core Viewpoint - Rosen Law Firm is encouraging investors of CarMax, Inc. to secure legal counsel before the January 2, 2026 deadline for a securities class action lawsuit related to the company's misleading statements during the class period from June 20, 2025, to November 5, 2025 [2][6]. Group 1: Class Action Details - Investors who purchased CarMax securities during the specified class period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [3]. - A class action lawsuit has already been filed, and those wishing to serve as lead plaintiff must act by January 2, 2026 [4]. - The lawsuit alleges that CarMax's management made materially false and misleading statements regarding the company's growth prospects, which were based on temporary market conditions rather than sustainable business performance [6]. Group 2: Rosen Law Firm's Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest securities class action settlement against a Chinese company [5]. - The firm was ranked No. 1 by ISS Securities Class Action Services for the number of settlements in 2017 and has consistently ranked in the top 4 since 2013, recovering hundreds of millions of dollars for investors [5]. - In 2019, the firm secured over $438 million for investors, showcasing its capability and success in representing clients in securities litigation [5].

Core Viewpoint - Investors in CarMax, Inc. have the opportunity to lead a securities fraud class action lawsuit due to substantial losses incurred as a result of misleading statements regarding the company's growth prospects [1][3]. Summary by Sections Lawsuit Details - The lawsuit alleges that between June 20, 2025, and November 5, 2025, CarMax's management failed to disclose that the company's growth was overstated and was primarily driven by temporary factors related to customer behavior influenced by tariff speculation [3]. Investor Participation - Investors who suffered losses in CarMax are encouraged to contact the Law Offices of Howard G. Smith before January 2, 2026, to participate in the ongoing class action lawsuit [2][4]. Legal Rights - Investors have the option to retain their own counsel or remain absent from the class action without taking any immediate action [5].