CarMax, Inc. (NYSE: KMX)

This lawsuit is for anyone who acquired securities in CarMax, Inc. (NYSE: KMX) from June 20, 2025 through September 24, 2025.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by, among other things, failing to timely disclose to investors that the Company’s inventory was not tailored to what customers wanted to buy.

On April 10, 2025, CarMax released its fourth quarter and fiscal year 2025 financial results, missing consensus estimates and disclosing that it would be “removing the timeframes” associated with long-term goals relating to revenue, unit sales, and market share “given the potential impact of broader macro factors.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on September 25, 2025, CarMax released its second quarter 2026 financial results, disclosing significant revenue and profit declines year over year, including: a revenue decline of 6.0%, total retail used vehicle revenues decline of 7.2%, and a total gross profit decline of 5.6%. The Company attributed its results primarily to actions required to “right size inventory” as well as a $71.3 million increase in loan loss provisions. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in CarMax, Inc. (NYSE: KMX) from June 20, 2025 through September 24, 2025 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.