CarMax Securities Suit Hits Jan. 2 Lead-Plaintiff Deadline as Firms Split on Class Period

Filings focus on claims that tariff speculation temporarily lifted sales, with worsening CAF credit costs allegedly underdisclosed.

Overview

Multiple investor firms, including Faruqi, Bragar Eagel & Squire, Rosen, Portnoy, and Frank R. Cruz, are urging shareholders to move for lead-plaintiff status by January 2, 2026.
Competing notices cite different class windows, most commonly June 20–September 24, 2025, with some extending through November 5, 2025 or as broad as March 5, 2024–October 8, 2025.
The case is filed in the U.S. District Court for the District of Maryland and alleges CarMax overstated sustainable growth tied to what plaintiffs describe as tariff-driven prebuying.
On September 25, 2025, CarMax reported that CAF income fell 11.2% and recorded a $142.2 million provision for loan losses, including a $71.3 million increase in estimated lifetime losses, after which shares fell about 20% to $45.60.
Separate shareholder-focused probes by Grabar Law and Kuehn Law target potential fiduciary breaches by officers and directors, directed at investors who held shares before June 20, 2025.