IN RE CARLOTZ, INC. SECURITIES LITIGATION

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK 21-cv-5906 (AS) IN RE CARLOTZ, INC. SEC. LITIG. OPINION AND ORDER ARUN SUBRAMANIAN, United States District Judge: Plaintiffs in this securities-fraud class action say that CarLotz and its officers misrepresented the fundamental nature of CarLotz’s business, falsely portraying the company as having a unique, asset-light, low-risk, consignment model when it really operated like any other used-car dealership. Some of these allegations are sufficient to state a Rule 10b-5 claim. So the motion to dismiss is granted in part and denied in…