We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of CarLotz, Inc. (“CarLotz” or the “Company”) (NASDAQ: LOTZ), in connection with the proposed merger of the Company with Shift Technologies, Inc. (“Shift”) (NASDAQ: SFT).  Under the terms of the merger agreement, Company shareholders will receive 0.692158 shares of Shift common stock for each share of CarLotz common stock, leaving then- current Shift equity holders owning approximately 52.9% and CarLotz then-current equity holders owning approximately 47.1% of the combined company upon closing of the transaction.

Weiss Law is investigating whether (i) CarLotz’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates CarLotz’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.