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PRNewswire 18-Mar-2023 7:00 AM
NEW YORK, March 18, 2023 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against National Vision Holdings, Inc. ("National Vision" or the "Company") (NASDAQ:EYE) and reminds investors of the March 28, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in National Vision stock or options between May 13, 2021 and May 9, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/EYE.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) National Vision was experiencing extraordinary wage and labor pressures as a result of intense competition and disruptions in the labor market due to the COVID-19 pandemic; (2) National Vision had made a significant multi-million dollar investment in wage and compensation payments to its vision care professionals to prevent mass defections in the middle of 2021; (3) the enhanced payouts were expected to negatively impact National Vision's fourth quarter 2021 costs and profit margins to an extent materially greater than what had been disclosed to investors; (4) as a result, National Vision's profitability metrics were expected to deteriorate below not only favorable 2020 results, but also pre-pandemic levels; and (5) consequently, there was a substantial undisclosed risk that National Vision would experience staff and optometrist shortages and capacity constraints. The National Vision class action lawsuit further alleges that defendants failed to disclose that: (i) National Vision had suffered a severe optometrist shortage in the first quarter of 2022; (ii) the lack of sufficient optometrists to meet customer demand had created an acute exam capacity constraint; (iii) as a result, National Vision was suffering from a decline in net revenue and adjusted comparable store sales during the first quarter of 2022; and (iv) thus, National Vision's 2022 financial outlook was materially false and misleading and lacked a reasonable factual basis
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding National Vision's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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SOURCE Faruqi & Faruqi, LLP