DRVN - Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Driven Brands Holdings Inc. (DRVN)
NEW YORK, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against Driven Brands Holdings Inc. (“Driven” or the “Company”) (NASDAQ: DRVN ). The investigation concerns whether Driven and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Driven provides automotive services, such as paint, collision, glass, vehicle repair, oil change, maintenance, and car wash services.
On August 2, 2023, Driven reported its financial results for the quarter ended July 1, 2023, and reduced its guidance for fiscal year 2023, attributing the results to “the performance of our Car Wash segment, which has been impacted by softer consumer demand, and our U.S. glass business, which has been impacted by integration delays.” On this news, the price of Driven shares declined by $10.63 per share, or approximately 41.15%, from $25.83 per share to close at $15.20 on August 2, 2023.
If you purchased or otherwise acquired Driven securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com , or by filling out this contact form , to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com .
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com