Weakness in TrueCar (TRUE) on CNCDA Suit Appears Overdone - Cowen
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California New Car Dealers Association Brings Legal Action against TrueCar for Non-Compliance with State’s Laws
May 20, 2015 8:08 PM EDTLitigation Charges TrueCar with Noncompliance with Key Sections of the California Vehicle Code and Non-Transparency with Consumers
SANTA MONICA, Calif.--(BUSINESS WIRE)-- California New Car Dealers Association today filed legal action against Santa Monica-based TrueCar (NASDAQ: TRUE) for its noncompliance with various sections of the California Vehicle Code (CVC) pertaining to dealer licensing, brokering, advertising and disclosure. Patricia Glaser of the highly respected law firm Glaser Weil filed this litigation in Santa Monica.... More
TrueCar responds to lawsuit filed by California New Car Dealers Association
May 20, 2015 6:26 PM EDTSANTA MONICA, Calif., May 20, 2015 /PRNewswire/ --Â TrueCar, Inc. (NASDAQ: TRUE) has always been committed to improving the car-buying experience for all participants, including consumers, dealers and manufacturers.
We are aware that a lawsuit was filed on behalf of the California New Car Dealers Association ("CNCDA"), a trade association that seeks a declaration from the Los Angeles Superior Court as to whether TrueCar qualifies as a dealer or autobroker under California law. To be clear, the complaint does not... More
