Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Driven Brands Holdings Inc. who purchased shares between May 9, 2023 and February 24, 2026.
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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 8, 2026 to request that the court appoint them lead plaintiff.