INVESTIGATION OF DRIVEN BRANDS INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC is investigating the officers and directors of Driven Brands Holdings Inc.

NEW ORLEANS, 21 June 2024 /PRNewswire/ — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq.Partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has initiated an investigation into Driven Brands Holdings Inc. (NasdaqGS: DRVN).

At 2 August 2023The company reported earnings for the second quarter of 2023 that fell short of expectations. These included disappointing results for the glass business, which was at least “multiple quarters” behind in integrating the acquired businesses, the car wash business, which suffered increased exposure to “increased competitive interference” that negatively impacted demand, and the paint and body businesses. Due to delays in integrating the acquired auto glass businesses and the faltering performance of the car wash business, the company cut its full-year 2023 earnings forecast despite previous commitments.

Subsequently, the Company and certain of its executives were sued in a class action lawsuit alleging failure to disclose material information during the Class Period in violation of the federal securities laws. The lawsuit is ongoing.

KSF’s investigation focuses on whether Driven’s officers and/or directors breached their fiduciary duty to their shareholders or otherwise violated state or federal laws.

If you have information that could assist KSF in its investigation, or if you are a long-term holder of Driven stock and would like to discuss your legal rights, you may call toll-free 1-833-938-0905, free of charge and without obligation, or email KSF Managing Partner Lewis Kahn ((email protected)), or visit https://www.ksfcounsel.com/cases/nasdaqgs-drvn/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr.is one of the nation’s leading boutique securities litigation firms. KSF serves a wide range of clients, including public institutional investors, hedge funds, asset managers and individual investors, in recovering investment losses from corporate transactions. Fraud or abuse of office by listed companies. KSF has offices in new York, Delaware, California, Louisiana And New Jersey.

To learn more about KSF, visit ksfcounsel.com.

Contact:
Kahn Swick & Foti, LLC
Lewis KahnManaging Partner
(email protected)
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163

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