TrueCar terminates Santa Monica office lease, sues landlord for constructive eviction

TrueCar, Inc.

Terminated lease with Mani Brothers Portofino Plaza effective April 10, 2024 over landlord's breach.
Filed lawsuit in LA Superior Court seeking declaratory judgment that termination was justified.
Company plans to vacate premises at 1401 Ocean Ave, Santa Monica as soon as feasible.
Lease originally dated July 10, 2014; material terms previously reported in 8-K and 10-Q.
No financial impact disclosed; company does not intend to update filing on lawsuit.

item 1.02 item 1.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TrueCar, Inc. terminated the Lease with Mani Brothers Portofino Plaza (DE), LLC (effective 2024-04-10).

Action: termination
Agreement: lease
Counterparty: Mani Brothers Portofino Plaza (DE), LLC
Effective: 2024-04-10

Exact text from the filing

(the “Company”) entered into an office building lease (the “Lease”) with Mani Brothers Portofino Plaza (DE), LLC, a Delaware limited liability company (the “Landlord”), pursuant to which the Company leased office space located at 1401 Ocean Avenue, Santa Monica, California (the “Premises”).

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Source: SEC EDGAR

accession 0001327318-24-000009

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