Case 2:19-cv-01636 Document 1 Filed 03/06/19 Page 1 of 87 Page ID #:1 1 David E. Bower (BAR# 119546) 2 Email:
[email protected] MONTEVERDE & ASSOCIATES PC 3 600 W. Corporate Pointe, Ste. 1170 4 Culver City, CA 90230 Telephone: (213) 446-6652 5 Facsimile: (212) 202-7880 6 Attorney for Plaintiff Dean Drulias 7 [Additional counsel on signature page] 8 9 IN THE UNITED STATES DISTRICT COURT 10 FOR THE CENTRAL DISTRICT OF CALIFORNIA 11 DEAN DRULIAS, derivatively on behalf 12 of TRUECAR, INC., Case No.: 13 Plaintiff, 14 vs. VERIFIED SHAREHOLDER 15 DERIVATIVE COMPLAINT 16 MICHAEL GUTHRIE; VICTOR (“CHIP”) PERRY; JOHN PIERANTONI; 17 ABHISEK AGRAWAL; ROBERT JURY TRIAL DEMANDED 18 BUCE; CHRISTOPHER CLAUS; STEVEN DIETZ; JOHN KRAFCIK; 19 ERIN LANTZ; WESLEY NICHOLS; 20 ION YADIGAROGLU; JOHN MENDEL; and UNITED STATES AUTOMOBILE 21 ASSOCIATION; 22 Defendants, 23 -and- 24 TRUECAR, INC., a Delaware corporation, 25 26 Nominal defendant. 27 28 VERIFIED SHAREHOLDER DERIVATIVE COMPLAINT Case 2:19-cv-01636 Document 1 Filed 03/06/19 Page 2 of 87 Page ID #:2 1 Plaintiff Dean Drulias (“Plaintiff”), by his attorneys, alleges for his Verified 2 Shareholder Derivative Complaint against defendants upon personal knowledge as 3 to him/herself and his own acts, and as to all other matters upon information and 4 belief based upon, inter alia, the investigation made by and through his attorneys, as 5 follows: 6 SUMMARY OF THE ACTION 7 1. This is a shareholder’s derivative action brought on behalf of nominal 8 defendant TrueCar, Inc. (“TrueCar” or the “Company”), by one of its shareholders 9 against certain of the Company’s officers and members of its Board of Directors (the 10 “Board”), alleging that these officers and directors (collectively, the “Individual 11 Defendants” as defined herein) breached their fiduciary duties by willfully and/or 12 recklessly causing or allowing the Company to issue false and misleading statements 13 or failing to disclose material adverse facts about TrueCar’s business, operations and 14 future prospects between February 16, 2017 and November 6, 2017.1 15 2.