CarMax 2007 Annual Report Download - page 24

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14
mid-sized markets as those with television viewing populations of between 600,000 and 2.5 million people.
Historically, mid-sized markets have been the easiest to enter from a real estate and an advertising/awareness
building perspective, and they are where we have generally experienced the fastest ramp-up in store sales and
profitability. We are also beginning to resume store growth in new large markets.
For additional details on fiscal 2008 planned store openings, please see “Operations Outlook,” included in Part II,
Item 7, of this Form 10-K.
Item 3. Legal Proceedings.
On August 29, 2006, Heather Herron, et al. filed a putative class action lawsuit against numerous South Carolina
automobile dealers, including CarMax Auto Superstores, Inc., in the Court of Common Pleas in Aiken County,
South Carolina. Subject to final judicial approval, we have settled this lawsuit, and we believe the settlement will
not materially affect our financial position or results of operations.
We are involved in various other legal proceedings in the normal course of business. Based upon our evaluation of
information currently available, we believe that the ultimate resolution of any such proceedings will not have a
material adverse effect, either individually or in the aggregate, on our financial position, liquidity, or results of
operations.
Item 4. Submission of Matters to a Vote of Security Holders.
No matters were submitted to a vote of security holders during the fourth quarter of fiscal 2007.