Securities Claims In TrueCar Stock-Drop Suit Survive Dismissal Bid

Mealey's (February 8, 2019, 1:17 PM EST) -- LOS ANGELES — In a two-page order, a federal judge in California on Feb. 5 ruled that a lead plaintiff in a securities class action has sufficiently alleged that internet-based car-pricing company TrueCar Inc., certain of its current and former executive officers and directors and others concealed the financial effects of a website redesign by its largest shareholder, United Services Automobile Association (USAA), in violation of federal securities laws (Leon D. Melbeck v. TrueCar Inc., et al., No. 18-2612, C.D. Calif.)....