TDOC - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Vestis Teladoc and Enphase and Encourages Investors to Contact the Fir | Benzinga
NEW YORK, June 07, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Vestis Corporation (NYSE:VSTS), Teladoc Health, Inc. (NYSE:TDOC), and Enphase Energy, Inc. (NASDAQ:ENPH). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Vestis Corporation (NYSE:VSTS)
Class Period: October 2, 2023 - May 1, 2024 (Common Stock Only)
Lead Plaintiff Deadline: July 16, 2024
Based in Roswell, Georgia, Vestis is a provider of uniforms and workplace supplies in the United States and Canada. The Company was created as the result of its September 30, 2023 spinoff from food services and facilities management provider Aramark. Vestis began trading on the New York Stock Exchange on October 2, 2023, the first day of the Class Period, under the ticker symbol "VSTS."
Leading up to Class Period before the spinoff, soon-to-be executives of Vestis claimed that "investments are in place" to deliver "5% to 7% topline growth" on compound annual growth rate (CAGR). They also assured investors that the Company's sales force had "reached their stride" and were "now hitting productivity levels that we desire from them." As the Class Period progressed, Defendants highlighted the "really, really great feedback" that Vestis had received from its customer service initiatives and maintained that the Company's growth would continue to accelerate based on, among other things, Vestis "providing service excellence to our customers."
The Class Action alleges that, during the Class Period, the Defendants made materially false and misleading statements and failed to disclose that: (1) Aramark had historically underinvested in the business that became Vestis; (2) Vestis operated with outdated facilities and an underperforming sales force; (3) Vestis's outdated facilities and underperforming sales force led to "service gaps" that had impeded the Company's levers of growth and had resulted in customer attrition; and (4) as a result of the above, Defendants' statements about Vestis's business, operations, and prospects were materially false and misleading and/or lacked a reasonable ...