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Fly News Breaks for May 21, 2015
TRUE
May 21, 2015 | 08:18 EDT
JMP Securities cut its price target on TrueCar after the California New Car Dealer Association sued the company, alleging noncompliance with certain California Vehicle Codes. The firm says the lawsuit creates uncertainty for the company and renews concerns about its relationship with dealers. However, the firm keeps an Outperform rating on the stock.
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