Izard Nobel LLP Announces Class Action Lawsuit against CarMax, Inc.

The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Virginia on behalf of those who purchased the common stock of CarMax, Inc. (“CarMax” or the “Company”) (NYSE: KMX) between April 2, 2008 and June 17, 2008, inclusive (the “Class Period”). The Complaint charges that CarMax and certain of its officers and directors violated federal securities laws by issuing materially false statements. Specifically, it is alleged that, during the Class Period, CarMax was not meeting internal sales targets and was facing a 55% shortfall in its net income for first quarter of fiscal year 2009, later prompting the Company to suspend its... [read full story]