CarMax Securities Class Actions Broaden to Nov. 5 as Firms Court Lead Plaintiffs

Overview

• Several filings now set the class period as June 20–Nov. 5, 2025 to include losses tied to the market reaction after CarMax announced the Nov. 6 termination of CEO Bill Nash, with shares reported down as much as $9.48 (−23%) that day.
• Earlier notices from other firms still define a shorter period of June 20–Sept. 24, 2025, creating competing class‑period proposals.
• Complaints contend CarMax overstated sustainable growth, alleging early fiscal‑2026 gains stemmed from customers pulling forward purchases on tariff speculation, with a Sept. 25 disclosure of weak Q2 results triggering roughly a 20% drop.
• Allegations also focus on CarMax Auto Finance, citing an approximately 11% year‑over‑year revenue decline and a $142 million loan‑loss provision that followed prior reassurances about reserves.
• The consolidated case, Cap v. CarMax, Inc., No. 25‑cv‑03602, is pending in the U.S. District Court for the District of Maryland, and firms including Bernstein Liebhard, Hagens Berman, DJS Law Group, and The Law Offices of Frank R. Cruz are soliciting investors before the Jan. 2, 2026 deadline.