Shares of CarMax fell more than 10% in pre-market trading on November 6, 2025, after the company announced that CEO Bill Nash will step down effective December 1, 2025, and board member David McCreight will serve as interim CEO. This decline follows a securities fraud complaint alleging that, between June 20, 2025 and September 24, 2025, CarMax overstated its long-term growth prospects by claiming “significant year-over-year earnings growth for years to come” when sales strength was temporarily driven by tariff speculation. The leadership change and preliminary guidance have exacerbated concerns over the accuracy of CarMax’s prior disclosures.
Contact our attorneys for a no-cost case evaluation.