Carvana Co. Investigated by the Portnoy Law Firm

LOS ANGELES, March 31, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Carvana Co. (“Carvana" or the "Company") (NYSE: CVNA) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via http://portnoylaw.com/carvana-co. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

Carvana’s stock price plummeted $67.68 per share, or 14.17%, to close at $410.04 per share on January 28, 2026, thereby injuring investors. This sharp market contraction was triggered by a January 28, 2026, publication of a highly critical short report by Gotham City Research LLC. The primary driver of the valuation collapse was the report’s severe allegations regarding the integrity of the Company’s financial reporting and its corporate governance structure.

Specifically, the report alleged that Carvana’s “2023-2024 earnings are overstated by $1 billion+,” suggesting a massive discrepancy between the Company's reported profitability and its actual fiscal health. The decline was further exacerbated by claims that the Company is “far more dependent on related parties than disclosed,” raising significant red flags concerning transparency and potential conflicts of interest. The revelation of these purported accounting irregularities and undisclosed dependencies led to an immediate loss of investor confidence and a rapid erosion of shareholder value as the market adjusted to the heightened risk of systemic financial misstatement.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

Attorney Advertising

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.