CarMax Hit With Securities Class Action as Firms Seek Lead Plaintiffs

Overview

• The case, captioned Jason Cap v. CarMax, Inc., No. 1:25-cv-03602, is pending in the U.S. District Court for the District of Maryland under Sections 10(b) and 20(a) of the Exchange Act.
• Plaintiffs allege CarMax overstated sustainable growth, claiming earlier strength reflected a tariff-driven pull forward of demand rather than durable trends.
• Investor alerts set a January 2, 2026 deadline to seek appointment as lead plaintiff under the PSLRA.
• Most notices define the class period as June 20 through November 5, 2025, while one firm lists an end date of November 24, 2025.
• Filings tie losses to a roughly 20% stock drop after September 25 results and a further decline of over 24% after the November 6 disclosure of CEO William D. Nash’s termination and a weak preliminary outlook; one firm is also probing loan-reserve assessments.