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PRNewswire 13-Feb-2024 5:45 AM
NEW YORK, Feb. 13, 2024 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Driven Brands Holdings Inc. ("Driven" or the "Company") (NASDAQ:DRVN) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Driven investors who were adversely affected by alleged securities fraud between October 27, 2021 and August 1, 2023. Follow the link below to get more information and be contacted by a member of our team:
DRVN investors may also contact Joseph E. Levi, Esq. via email at firstname.lastname@example.org or by telephone at (212) 363-7500.
CASE DETAILS: According to the filed complaint, defendants repeatedly touted Driven's ability to execute and integrate acquisitions as a "core strength," and assured investors that the Company had made "significant progress" integrating the auto glass businesses it had acquired. Driven 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? If you suffered a loss in Driven during the relevant time frame, 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 a lead plaintiff.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
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SOURCE Levi & Korsinsky, LLP