INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Driven Brands Holdings Inc. of Class Action Lawsuit and Upcoming Deadlines - DRVN
INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Driven Brands Holdings Inc. of Class Action Lawsuit and Upcoming Deadlines - DRVN |
| [12-March-2026] |
NEW YORK, March 12, 2026 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Driven Brands Holdings Inc. ("Driven" or the "Company") (NASDAQ: DRVN). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Driven and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. You have until May 11, 2026, to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Driven securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com. [Click here for information about joining the class action] On February 25, 2026, Driven filed a Notice of Non-Reliance with the U.S. Securities and Exchange Commission, disclosing that "there were material errors in our previously issued consolidated financial statements for the fiscal year ended December 28, 2024 ('fiscal year 2024') and the fiscal year ended December 30, 2023 ('fiscal year 2023') contained in the Company's Annual Report on Form 10-K for the fiscal year 2024, and in our previously issued unaudited condensed consolidated financial statements for each of the quarterly and year-to-date periods within fiscal year 2024 as well as the quarterly and year-to-date periods for the periods ended September 27, 2025, June 28, 2025 and March 29, 2025, and concluded that such financial statements should not be relied upon and required restatement (the 'Restatement')." Driven specified that the errors variously related to "the completeness and accuracy of recording leases"; "unreconciled differences for cash accounts primarily originating in fiscal years 2023 and earlier"; the incorrect presentation of "certain supply and other expenses" as "company-operated store expenses"; as well as "the income tax provision, supply and other revenue, fixed assets, cloud computing, lease cash application, and balance sheet and income statement misclassifications, as well as inappropriately recognized revenue in our ATI business primarily related to fiscal year 2025." Driven also disclosed its "conclusion that our internal control over financial reporting and disclosure controls and procedures were not effective as of December 27, 2025." On this news, Driven's stock price fell $5.01 per share, or 30.16%, to close at $11.60 per share on February 25, 2026. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:
SOURCE Pomerantz LLP | ||
Company Codes: NASDAQ-NMS:DRVN |
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