NEW YORK, NY / ACCESSWIRE / February 20, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors" that a class action lawsuit has been filed against Driven Brands Holdings Inc. ("Driven" or "the Company") (NASDAQ:DRVN) and certain of its officers.
Class Definition:
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Driven securities between October 27, 2021 and August 1, 2023, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/DRVN.
Case Details:
The Complaint alleges that, throughout the Class Period, Defendants made numerous materially false and misleading statements and omissions that fall into two categories: (1) statements concerning Driven's ability to efficiently and effectively integrate a high volume of acquired businesses including statements related to the status of integrating its U.S. auto glass businesses; and (2) statements concerning the performance and competitive position of Driven's car wash business segment. Specifically, throughout the Class Period, Defendants repeatedly touted Driven's ability to execute and integrate acquisitions as a "core strength" and assured investors that it had made "significant progress" integrating the auto glass businesses it had acquired. The Company also represented that the large scale of its car wash business served as a "competitive moat" that would preserve Driven's competitive position. While Driven acknowledged some "softness" in customer demand for its car wash business segment, the Company downplayed that issue and pointed investors to the growth of its car wash subscriptions, which Driven labeled as the "Holy Grail" in the car wash business.
What's Next?
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/DRVN or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Driven you have until February 20, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.
There is No Cost to You
We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC