Ernest Garcia II—who founded Carvana Co. along with his son, CEO Ernest Garcia III—lost his bid Wednesday to escape investor litigation in Delaware over claims they made hundreds of millions by unnecessarily refinancing the company during the pandemic-related market panic in early 2020.
Chancellor Kathaleen St. Jude McCormick rejected a bid by the elder Garcia, who goes by Garcia Sr., to exit the case on jurisdictional grounds. McCormick, the chief judge for Delaware’s Chancery Court, found that he implicitly consented to jurisdiction when he approved a Delaware forum selection clause on Carvana’s behalf.
The judge acknowledged that Garcia Sr. never ...
KENNESAW, Ga. (InvestigateTV) - A Kennesaw homeowner discovered someone filed a fraudulent insurance claim for fire damage on her renovated home, sparking a months-long battle to clear her record a...