San Diego, CA -- (SBWire) -- 10/18/2023 --Driven Brands Holdings Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Driven Brands Holdings Inc. (NASDAQ: DRVN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Driven Brands Holdings Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Charlotte, NC based Driven Brands Holdings Inc. provides automotive services to retail and commercial customers in North America and internationally.
Driven Brands Holdings Inc. held its initial public offering in January 2021 and sold 36.59 million shares at $22.00 per share.
Before the market opened on August 2, 2023, Driven Brands Holdings Inc. announced its second quarter 2023 results, issued weaker than expected third quarter 2023 guidance, and lowered full year 2023 guidance. During the earnings call, Driven Brands' management blamed its financial performance on increased competition in the car wash business over the prior two years. In addition, management said it is now "a few quarters behind" integrating the two auto glass acquisitions.
Shares of Driven Brands Holdings Inc. (NASDAQ: DRVN) declined to as low as $11.05 per share on October 13, 2023.
Those who purchased shares of Driven Brands Holdings Inc. (NASDAQ: DRVN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:DRVN Investor Alert: Investigation over Possible Securities Laws Violations by Driven Brands Holdings Inc.
An investigation for investors in Driven Brands Holdings Inc. (NASDAQ:DRVN) shares over potential securities laws violations by Driven Brands Holdings Inc. was announced.