SAN DIEGO, Dec. 30, 2023 (GLOBE NEWSWIRE) -- The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers of Driven Brands Holdings Inc. (NASDAQ: DRVN) common stock between October 27, 2021 and August 1, 2023, both dates inclusive (the “Class Period”), have until February 20, 2024 to seek appointment as lead plaintiff of the Driven Brands class action lawsuit. Captioned Genesee County Employees’ Retirement System v. Driven Brands Holdings Inc., No. 23-cv-00895 (W.D.N.C.), the Driven Brands class action lawsuit charges Driven Brands and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Driven Brands class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-driven-brands-holdings-inc-class-action-lawsuit-drvn.html
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.
CASE ALLEGATIONS: Driven Brands provides customers with a range of automotive needs, including paint, collision, glass, oil change, maintenance, and car wash.
The Driven Brands class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that Driven Brands was at least “several quarters” behind on integrating the auto glass business it had acquired and Driven Brands’ car wash business was more exposed to the negative impacts from a decline in demand from retail customers than it represented to investors.
The Driven Brands class action lawsuit further alleges that on August 2, 2023, Driven Brands announced disappointing financial results for the second quarter of 2023 for both its auto glass and car wash business segments and slashed its full-year guidance for fiscal year 2023. On this news, Driven Brands common stock fell more than 41%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Driven Brands common stock during the Class Period to seek appointment as lead plaintiff of the Driven Brands class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Driven Brands class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Driven Brands class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Driven Brands class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, Suite 1900, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
jsanchez@rgrdlaw.com
