Marex and CarMax Securities Suits Enter Lead‑Plaintiff Phase With New Deadlines

Overview

• - Marex investors in Narayanan v. Marex Group PLC (S.D.N.Y., No. 25-cv-08393) have until December 8, 2025 to seek lead‑plaintiff status for trades from May 16, 2024 through August 5, 2025.
• - Complaints against Marex cite an August 5 NINGI Research report alleging fabricated intercompany receivables, off‑balance‑sheet entities, and nearly $1 billion in concealed derivatives exposure, after which shares fell 6.2%.
• - CarMax investors face a January 2, 2026 deadline in Jason Cap v. CarMax, Inc. (D. Md., No. 1:25-cv-03602), with amended notices extending the proposed class period to June 20–November 5, 2025 in some filings.
• - Filings against CarMax allege growth was overstated due to tariff‑driven demand, highlight a $142.2 million CAF loan‑loss provision disclosed with weak Q2 FY2026 results and a ~20% stock drop, and note a further decline after the November 6 CEO departure and soft preliminary Q3 outlook.
• - Multiple firms are vying to lead both cases, including KSF, Glancy Prongay & Murray, Faruqi & Faruqi, Levi & Korsinsky, Schall, Block & Leviton, Rosen Law, and BFA, with no classes certified and lead‑plaintiff appointments pending under the PSLRA.