INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Vestis Corporation (VSTS) on Behalf of Investors
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Vestis Corporation (“Vestis” or the “Company”) (NYSE: VSTS) investors concerning the Company’s possible violations of federal securities laws.
“challenges ... related to sales productivity and deliberate moderated pricing actions”
On May 2, 2024, Vestis released its second quarter FY2024 financial results, falling below expectations and revising its 2024 outlook, reporting that it “now expect[ed] to deliver fiscal 2024 revenue growth in the range of [negative] (1)% to 0%.” The Company blamed “challenges ... related to sales productivity and deliberate moderated pricing actions” for the disappointing results.
On this news, Vestis’s stock price fell $8.31, or 45%, to close at $10.16 per share on May 2, 2024, thereby injuring investors.
If you purchased Vestis securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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