Driven Brands Holdings Inc. (NASDAQ: DRVN)

This lawsuit is for anyone who acquired securities in Driven Brands Holdings Inc. (NASDAQ: DRVN) from October 27, 2021 through August 1, 2023.

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 telling investors that the Company was successfully integrating its recent acquisitions despite that the Company was actually having difficulty integrating its recent acquisitions.

On August 2, 2023, Driven Brands announced disappointing financial results for the second quarter of 2023 and lowered its full year 2023 guidance. The Company claimed that increased competition in the car wash business was to blame. Additionally, Driven Brands disclosed that it is “a few quarters behind” in integrating two auto glass acquisitions. On this news, the price of the Company’s stock 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 Driven Brands Holdings Inc. (NASDAQ: DRVN) from October 27, 2021 through August 1, 2023 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.