The dismissal throws out the stockholders' allegations that TrueCar's directors and officers knew in advance that an update to a website made by USAA, with which TrueCar had a partnership and which was a large driver of sales, would be "a nightmare to use" and ultimately drive away customers.
October 02, 2020 at 06:00 PM
1 minute read
Chancellor Andre Bouchard this week tossed out TrueCar Inc. shareholders’ claims, ruling the shareholders hadn’t adequately proven their concerns couldn’t have been addressed by board members.
The decision from the Delaware Court of Chancery dismissed the complaint in its entirety and with prejudice, granting motions filed by defendants including TrueCar, current and former directors and officers and United Services Automobile Association (USAA), TrueCar’s largest shareholder.
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TrueCar (Photo: Courtesy Photo)
