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Carvana, Founders Defend Vote-Inflating Provision In Del. Suit

Law 360

Used-car vendor Carvana Co. and its father-and-son founders, Ernest Garcia II and Ernest Garcia III, pushed back Tuesday on allegations that the company's charter violates Delaware law by giving the Garcias 10 times the voting power of common shareholders for the same class of shares.

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Carvana, Execs Escape Investor's Offering Statements Suit

Law 360

Online used car retailer Carvana Co. and some of its top brass no longer face a proposed investor class action in Arizona state court alleging the company misled would-be shareholders about certain aspects of its operations as it held a secondary public offering in 2022.

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