CarMax Securities Suit Spurs New Investor Solicitations as Jan. 2 Lead-Plaintiff Deadline Looms
Investors face a January 2 deadline to seek lead-plaintiff status in the Maryland case over alleged misstatements about tariff-pulled demand.
Overview
- The federal case, 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) and Rule 10b‑5.
- Multiple firms issued fresh reminders, including Faruqi & Faruqi, Hagens Berman, Bleichmar Fonti & Auld, DJS Law Group, The Gross Law Firm, The Schall Law Firm, and Glancy Prongay & Murray.
- Filings vary on the class period, with some notices using June 20–September 24, 2025, while others extend through November 5, 2025.
- Complaints allege CarMax portrayed tariff-driven, temporary demand as sustainable growth and downplayed credit deterioration at CarMax Auto Finance.
- Plaintiffs cite CarMax’s September 25 disclosure of an 11.2% CAF income decline and a $142.2 million loan-loss provision followed by about a 20% share drop, plus a further decline of over 24% after the November 6 CEO departure and weak outlook.