According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- Driven Brands had material weaknesses in its internal controls over financial reporting;
- as a result, Driven Brands’s financial statements for fiscal years 2023 and 2024, as well as the first three quarters of fiscal 2023, contained material errors;
- in turn, the affected financial statements were unreliable and would ultimately need to be restated; and
- due to the foregoing, defendants’ positive statements Driven Brands’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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