CarMax, Inc.

CarMax, Inc. (NYSE: KMX): CarMax, Inc. (“CarMax” or the “Company”) is being investigated for violations of the federal securities laws in connection with potential false and misleading statements made to investors and a subsequent significant price decline in the stock.


If you incurred losses on your investments in CarMax, you are encouraged to submit your information.

Why Is CarMax being Investigated?

CarMax sells used cars.  During the relevant period, the Company touted the strong and sustainable demand for its cars, driven by factors such as a seamless customer experience.

In truth, it appears that the announcement of U.S. tariffs imposed on cars provided a short-term boost to demand, as customers purchased cars prior to the tariffs taking effect.

The Stock Declines as the Truth Is Revealed

On September 25, 2025, the Company reported earnings for fiscal Q2 2025.  For that quarter, CarMax announced sales declines across the board, including a 5.4% decline in retail used unit sales, a 6.3% decline in comparable store used unit sales, and a 2.2% decline in wholesale units.  The Company also posted a disappointing Q2 net earnings of about $95.4 million, down from $132.8 million over the prior year.  A main reason for the declines, according to CarMax, was a “pull forward” in demand into Q1 due to the announcement of tariffs.  On this news, the price of CarMax stock fell $11.45 per share, or roughly 20%, from $57.05 per share on September 24, 2025, to $45.60 per share on September 25, 2025.

What Are My Rights?

If you incurred losses on your investments in CarMax, you are encouraged to submit your information using the form on this page to speak with an attorney about your rights.

You can also contact:
Ross Shikowitz
ross@bfalaw.com
212.789.3619

All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses.

Why Bleichmar Fonti & Auld LLP?

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