NEW ORLEANS–(BUSINESS WIRE– Former Louisiana Attorney General Charles C. Foti, Jr., Esq., A partner in law firm Kahn Swick & Foti, LLC (“KSF”), announced that KSF has opened an investigation against Sonic Automotive. Inc. (NYSE: SAH).
On October 7, 2020, news sources reported that the company’s chief executive officer, David Bruton Smith, had been arrested and charged with gagging and wrongdoing for wrongful imprisonment, assaulting a woman, and disrupting emergency communications. Shortly thereafter, the company’s board of directors issued a statement confirming that the company “continues to be steadfast for them [its] CEO. ”
Then, on March 1, 2021, news sources reported that Smith had been charged by a Mecklenburg, NC County grand jury on all four charges related to the October 2020 arrest, according to Mecklenburg County Prosecutors.
KSF’s investigation is focused on whether Sonic’s officers and / or directors have violated their fiduciary duty to Sonic’s shareholders or have otherwise violated state or federal law.
If you have information that would assist KSF with the investigation, or have been a long-term owner of Sonic stock and would like to discuss your legal rights, please call 1-877-515-1850 toll free with no obligation or cost or email Mail to KSF Managing Partner Lewis Kahn (firstname.lastname@example.org) or visit https://www.ksfcounsel.com/cases/nyse-sah/ for more information.
About Kahn Swick & Foti, LLC
KSF, which partners with former Louisiana Attorney General Charles C. Foti Jr., is one of the leading securities litigation law firms in the country. KSF assists a wide variety of clients – including public institutional investors, hedge funds, money managers and private investors – in their search for investment losses due to corporate fraud and misconduct by listed companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, please visit www.ksfcounsel.com.