This lawsuit is for anyone who acquired securities in National Vision Holdings, Inc. (NASDAQ: EYE) from May 13, 2021 through May 9, 2022.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the Company was significantly increasing its spending to retain optometrists post-pandemic and the associated negative profit margins.
On November 10, 2021, in connection with its third quarter 2021 financial results, National Vision tightened its fiscal 2021 sales outlook (but did not change its earnings guidance), indicating that the Company was suffering from a substantial deterioration in profit margins during fourth quarter 2021. On this news, the Company's stock price dropped precipitously on unusually heavy trading volume. Then, on May 9, 2022, National Vision issued its first quarter 2022 financial results, disclosing that the Company’s net revenues had decreased 1.2% to $527.7 million, its adjusted CSS had fallen 6.8%, net income had decreased 30.6% to $30.1 million, and its diluted EPS had decreased 28.2% to $0.34. The Company also adjusted its 2022 outlook, indicating that it was performance worse in terms of profits and earnings than before the pandemic. On this news, the Company's stock price again dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in National Vision Holdings, Inc. (NASDAQ: EYE) from May 13, 2021 through May 9, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Case Summary
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
Terms:
correct statements.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.
