TrueCar, Inc. (NASDAQ:TRUE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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TrueCar, Inc. (NASDAQ:TRUE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

TrueCar, Inc. (NASDAQ:TRUE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 >Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 20, 2019, TrueCar, Inc. (the “Company”) terminated the employment of Robert T. “Tommy” McClung, Executive Vice President and Chief Technology Officer, with immediate effect in connection with a reorganization of the Company described in further detail under Item 7.01 of this Current Report on Form 8-K.
Item 7.01 Regulation FD Disclosure.
On June 20, 2019, the Company implemented a reorganization to which, among other things, the Company (i) terminated the employment of Mr. McClung and Neeraj Gunsagar, Executive Vice President and Chief Marketing Officer, with immediate effect, and (ii) bifurcated its Technology department into separate Product and Technology departments.
The information in this Item 7.01 of this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
About TrueCar, Inc. (NASDAQ:TRUE)

TrueCar, Inc. offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for enterprises. Its network of approximately 11,000 TrueCar Certified Dealers consists primarily of new car franchises, as well as independent dealers selling used vehicles. Its subsidiary, ALG, Inc., provides forecasts and consulting services regarding determination of the residual value of an automobile at given future points in time. It obtains automobile purchase data from various sources and uses this data to provide consumers and dealers with geographically specific, real-time pricing information.