By Katryna Perera (October 18, 2021, 1:32 p.m. EDT) – A New York federal judge has appointed Kahn Swick & Foti LLC to serve as lead counsel in a securities class action alleging retail consignment used car company CarLotz has made misleading claims that have caused its share price to fall by more than half since its IPO earlier this year.
Kahn Swick & Foti beat three other companies on Friday that were looking to take the deal. Pomerantz LLP, Robbins Geller Rudman & Dowd LLP and Glancy Prongay & Murray LLP had all filed motions to serve as class counsel, according to court documents.
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