CarLotz Securities Investigation


Our securities attorneys are investigating potential claims on behalf of CarLotz stockholders arising out of the merger of CarLotz with Acamar Partners Acquisition Corp., a special purpose acquisition company (“SPAC”).

CarLotz and Acamar may have misrepresented the nature of the CarLotz business as a means of creating investor support for the company’s public debut.

If you invested in CarLotz and/or Acamar, you may have a claim for relief. Protect your rights by speaking with a Girard Sharp attorney—dial (866) 981-4800 or submit your information below for a free and confidential consultation about your potential claim.

Speak to a Lawyer

More About the CarLotz Securities Investigation

CarLotz purports to be a consignment-to-retail used vehicle marketplace operating both online and at a series of retail hubs. By consigning vehicles, instead of following the traditional model of purchasing and reselling, CarLotz claims to operate an “asset-light,” low-risk business model with no capital tied up in inventory. In 2020, CarLotz announced its plans to merge with Acamar. To generate shareholder support in the ensuing months, CarLotz conducted a series of investor presentations which may have contained material misstatements and omissions as to how many corporate consignment partners CarLotz had.

On December 30, 2020, Acamar published a Form 424B3 Prospectus with the SEC that included many of the same alleged misstatements—including that 60% of the company’s inventory derived from a “deep pool” of partners, when in fact one single partner allegedly made up 60% of its inventory.

On January 21, 2021, the merger closed and the new company CarLotz, Inc. debuted with an initial stock price of over $12 per share. On March 15, the company released its financial results for the fourth quarter, revealing the questionable nature of the pre-merger representations of the business model and its success. On the news, the company’s stock price fell 8.5%. On the release of the company’s first quarter 2021 financial report, no changes had been made to the business model, and its stock price fell by another 14%.

If you invested in CarLotz and/or Acamar, protect your rights by speaking with a Girard Sharp attorney—dial (866) 981-4800 or submit your information through the form above.

Our Commitment to Excellence

Girard Sharp LLP represents investors, consumers, and institutions in class actions and other complex litigation nationwide. We serve on the Plaintiffs’ executive committee in the recent spoofing litigation against JPMorgan Chase that settled for $60 million, a favorable resolution that the district court preliminarily approved on December 20, 2021. (S.D.N.Y. Case No. 1:18-cv-10356.) Our class action attorneys have obtained multimillion-dollar recoveries for victims of unfair and deceptive practices in antitrust, financial fraud, and consumer protection matters against some of the country’s largest corporations, including Raymond James, John Hancock, and Sears. Girard Sharp has earned top-tier rankings from U.S. News and World Report for Securities and Class Action Litigation and has been repeatedly selected as an Elite Trial Lawyers finalist by the National Law Journal.

Main Menu