Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries SHAREHOLDER ALERT: Robbins LLP Investigates Vroom, Inc. (VRM) on Behalf of Shareholders By: Robbins LLP via Business Wire November 11, 2021 at 13:21 PM EST Shareholder rights law firm Robbins LLP announces it is investigating Vroom, Inc. (NASDAQ: VRM) to determine whether certain Vroom officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company. Vroom operates an end-to-end ecommerce platform that sells fully reconditioned vehicles. If you would like more information about Vroom, Inc.'s misconduct, click here. Vroom, Inc. (VRM) is Accused of Misleading Investors About its Ability to Meet Demand for its Vehicles According to a class action complaint filed on behalf of purchasers of Vroom, when Vroom announced its third quarter 2020 financial results on November 11, 2020, the Company "expect[ed] another quarter of significant year-over-year growth in ecommerce unit sales and revenue for Q4 2020 and continued strength in total ecommerce gross profit per unit." On a conference call the same day, Vroom's CEO stressed that demand was strong and noted that the Company was "ramp[ing] up our sales support in anticipation of continued escalating sales growth in the New Year." On March 3, 2021, Vroom announced its fourth quarter and full year 2020 financial results. The Company reported that fourth quarter "Ecommerce Vehicle gross profit per unit decreased 13.1% to $878, driven primarily by lower sales margins, partially offset by improvements in inbound logistics and reconditioning costs per unit." Vroom also reported that its "[n]et loss increased 41.9% to $60.7 million." Contrary to its statements just months prior that it could scale growth to meet the demand for product, the Company explained, "due to the constraints in sales personnel and sales support personnel, we were unable to convert and process the sales associated with that demand. The result is that our inventory aged. That aged inventory need to be discounted to move through our retail channels or liquidated in our wholesale channels." On this news, the Company's stock price fell $12.29 per share, or 27.9%, to close at $31.61 per share on March 4, 2021. Vroom, Inc. (VRM) shareholders have legal options. If you own shares of Vroom, Inc., contact us to learn more about your rights. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. Contact us to learn more: Aaron Dumas (800) 350-6003 adumas@robbinsllp.com Shareholder Information Form About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Vroom, Inc. settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. View source version on businesswire.com: https://www.businesswire.com/news/home/20211111005981/en/Contacts Contact: Aaron Dumas Robbins LLP 5040 Shoreham Place San Diego, CA 92122 adumas@robbinsllp.com (800) 350-6003 www.robbinsllp.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
SHAREHOLDER ALERT: Robbins LLP Investigates Vroom, Inc. (VRM) on Behalf of Shareholders By: Robbins LLP via Business Wire November 11, 2021 at 13:21 PM EST Shareholder rights law firm Robbins LLP announces it is investigating Vroom, Inc. (NASDAQ: VRM) to determine whether certain Vroom officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company. Vroom operates an end-to-end ecommerce platform that sells fully reconditioned vehicles. If you would like more information about Vroom, Inc.'s misconduct, click here. Vroom, Inc. (VRM) is Accused of Misleading Investors About its Ability to Meet Demand for its Vehicles According to a class action complaint filed on behalf of purchasers of Vroom, when Vroom announced its third quarter 2020 financial results on November 11, 2020, the Company "expect[ed] another quarter of significant year-over-year growth in ecommerce unit sales and revenue for Q4 2020 and continued strength in total ecommerce gross profit per unit." On a conference call the same day, Vroom's CEO stressed that demand was strong and noted that the Company was "ramp[ing] up our sales support in anticipation of continued escalating sales growth in the New Year." On March 3, 2021, Vroom announced its fourth quarter and full year 2020 financial results. The Company reported that fourth quarter "Ecommerce Vehicle gross profit per unit decreased 13.1% to $878, driven primarily by lower sales margins, partially offset by improvements in inbound logistics and reconditioning costs per unit." Vroom also reported that its "[n]et loss increased 41.9% to $60.7 million." Contrary to its statements just months prior that it could scale growth to meet the demand for product, the Company explained, "due to the constraints in sales personnel and sales support personnel, we were unable to convert and process the sales associated with that demand. The result is that our inventory aged. That aged inventory need to be discounted to move through our retail channels or liquidated in our wholesale channels." On this news, the Company's stock price fell $12.29 per share, or 27.9%, to close at $31.61 per share on March 4, 2021. Vroom, Inc. (VRM) shareholders have legal options. If you own shares of Vroom, Inc., contact us to learn more about your rights. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. Contact us to learn more: Aaron Dumas (800) 350-6003 adumas@robbinsllp.com Shareholder Information Form About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Vroom, Inc. settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. View source version on businesswire.com: https://www.businesswire.com/news/home/20211111005981/en/Contacts Contact: Aaron Dumas Robbins LLP 5040 Shoreham Place San Diego, CA 92122 adumas@robbinsllp.com (800) 350-6003 www.robbinsllp.com
Shareholder rights law firm Robbins LLP announces it is investigating Vroom, Inc. (NASDAQ: VRM) to determine whether certain Vroom officers and directors violated the Securities Exchange Act of 1934 and breached their fiduciary duties to the Company. Vroom operates an end-to-end ecommerce platform that sells fully reconditioned vehicles. If you would like more information about Vroom, Inc.'s misconduct, click here. Vroom, Inc. (VRM) is Accused of Misleading Investors About its Ability to Meet Demand for its Vehicles According to a class action complaint filed on behalf of purchasers of Vroom, when Vroom announced its third quarter 2020 financial results on November 11, 2020, the Company "expect[ed] another quarter of significant year-over-year growth in ecommerce unit sales and revenue for Q4 2020 and continued strength in total ecommerce gross profit per unit." On a conference call the same day, Vroom's CEO stressed that demand was strong and noted that the Company was "ramp[ing] up our sales support in anticipation of continued escalating sales growth in the New Year." On March 3, 2021, Vroom announced its fourth quarter and full year 2020 financial results. The Company reported that fourth quarter "Ecommerce Vehicle gross profit per unit decreased 13.1% to $878, driven primarily by lower sales margins, partially offset by improvements in inbound logistics and reconditioning costs per unit." Vroom also reported that its "[n]et loss increased 41.9% to $60.7 million." Contrary to its statements just months prior that it could scale growth to meet the demand for product, the Company explained, "due to the constraints in sales personnel and sales support personnel, we were unable to convert and process the sales associated with that demand. The result is that our inventory aged. That aged inventory need to be discounted to move through our retail channels or liquidated in our wholesale channels." On this news, the Company's stock price fell $12.29 per share, or 27.9%, to close at $31.61 per share on March 4, 2021. Vroom, Inc. (VRM) shareholders have legal options. If you own shares of Vroom, Inc., contact us to learn more about your rights. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. Contact us to learn more: Aaron Dumas (800) 350-6003 adumas@robbinsllp.com Shareholder Information Form About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Vroom, Inc. settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. View source version on businesswire.com: https://www.businesswire.com/news/home/20211111005981/en/
Contact: Aaron Dumas Robbins LLP 5040 Shoreham Place San Diego, CA 92122 adumas@robbinsllp.com (800) 350-6003 www.robbinsllp.com