Driven Brands Holdings Inc. Securities Fraud Class Action Result of Erroneous Financial Statements and 39% Stock Decline - Investors may Contact Lewis Kahn, Esq, at Kahn Swick & Foti, LLC
Driven Brands Holdings Inc. Securities Fraud Class Action Result of Erroneous Financial Statements and 39% Stock Decline - Investors may Contact Lewis Kahn, Esq, at Kahn Swick & Foti, LLC
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until May 8, 2026 to file lead plaintiff applications in a securities class action lawsuit against Driven Brands Holdings Inc. (NasdaqGS: DRVN) (“Driven” or the “Company”), if they purchased or otherwise acquired the Company’s shares between May 9, 2023 and February 24, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Driven and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-drvn/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 8, 2026.
About the Lawsuit
Driven and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 25, 2026, the Company disclosed that it had identified at least seven different categories of “material errors” in the Company’s consolidated financial statements for fiscal years 2023 and 2024, as well as in quarterly periods in 2025, and that “such financial statements should not be relied upon and required restatement” and as a result, the Company would delay the filing of its Annual Report on Form 10-K for the fiscal year 2025 and need to restate its financials for fiscal years 2023, 2024, and the first three quarters of 2025.
On this news, the price of Driven Brands’ shares fell nearly 40%, from a close of $16.61 on February 24, 2026, to open at $9.99 on February 25, 2026.
The case is Clark v. Driven Brands Holdings Inc., et al., Case No. 26-cv-01902.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
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Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
