Shareholder Update: Shareholder Class Action Lawsuit Against Driven Brands Holdings Inc. Survives Motion to Dismiss: Johnson Fistel LLP Continues to Investigate the Directors and Officers for Breach of Fiduciary Duties

Globe Newswire 25-Feb-2025 11:36 AM

SAN DIEGO, Feb. 25, 2025 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP announces it is investigating whether certain directors and officers of Driven Brands Holdings Inc. (NASDAQ:DRVN) breached their fiduciary duties to the Company and its shareholders.

What can I do? If you are a current long-term Driven Brands shareholder, you may have legal claims that may be brought on behalf of the company, against the Company's directors and officers. If you wish to discuss this notice or your legal rights, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

If you have continuously owned Driven Brands shares, you can click or copy and paste the link below in a browser to join: https://www.cognitoforms.com/JohnsonFistel/DrivenBrandsHoldingsInc

What is this about? Recently the court denied the defendants' motion to dismiss the shareholder class action lawsuit. The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (i) despite repeatedly touting the Company's ability to execute and integrate acquisitions as a "core strength," Driven had not made significant progress integrating the auto glass businesses it had acquired; (ii) the large scale of its car wash business was not enough to preserve Driven's competitive position in the market; (iii) the severity of its issues with customer demand for its car wash business segment; (iv) the Company was several quarters behind on integrating its auto glass businesses; and (v) the Company's car wash business was faltering and more exposed to a decline in demand from retail customers than Defendants represented to investors.

Johnson Fistel LLP's investigation seeks to determine whether the senior officers or members of its board of directors harmed the company by breaching their fiduciary duties or otherwise violating securities laws in connection with the foregoing alleged conduct.

About Johnson Fistel, LLP:   Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.

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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com