{"id":813713,"date":"2025-02-17T08:35:18","date_gmt":"2025-02-17T13:35:18","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kaskela-law-llc-announces-investigation-of-driven-brands-holdings-inc-nasdaq-drvn-and-encourages-long-term-investors-to-contact-the-firm\/"},"modified":"2025-02-17T08:35:18","modified_gmt":"2025-02-17T13:35:18","slug":"shareholder-alert-kaskela-law-llc-announces-investigation-of-driven-brands-holdings-inc-nasdaq-drvn-and-encourages-long-term-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kaskela-law-llc-announces-investigation-of-driven-brands-holdings-inc-nasdaq-drvn-and-encourages-long-term-investors-to-contact-the-firm\/","title":{"rendered":"SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Driven Brands Holdings, Inc. (NASDAQ: DRVN) and Encourages Long-Term Investors to Contact the Firm"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">PHILADELPHIA, Feb.  17, 2025  (GLOBE NEWSWIRE) &#8212; <\/p>\n<p align=\"left\">Kaskela Law LLC announces that it is investigating Driven Brands Holdings Inc. (NASDAQ: DRVN) (\u201cDriven\u201d) on behalf of the company\u2019s long-term investors.<\/p>\n<p align=\"left\">\n        <strong><br \/>\n          <em>Click here for additional information: <\/em><br \/>\n        <\/strong><br \/>\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=UcaOdNN00haS3ktdtLk_7cx-e3HCZVdFRB1FagF9P1hOUcno0PCfgRU00YL75B7JhMsl5e3WiUMCExv34J0a-CfEC4cN_FhdlERPAoFjgGU_ilryhM54il_rGPcYPTmkJVJA4mD1GHrDbTIiGuF0tria0N3l1VQxpa-1KaUXmeg=\" rel=\"nofollow\" target=\"_blank\"><br \/>\n          <strong><br \/>\n            <em>https:\/\/kaskelalaw.com\/case\/driven-brands-holdings\/<\/em><br \/>\n          <\/strong><br \/>\n        <\/a>\n      <\/p>\n<p align=\"left\">Recently a securities fraud complaint was filed against Driven on behalf of investors who purchased shares of the company\u2019s stock between October 27, 2021 and August 1, 2023. According to the complaint, during that time period Driven and certain of the company\u2019s senior executive officers made a series of materially false and misleading statements, and omitted to disclose material adverse information, concerning the Company\u2019s two most important growth initiatives: (i) the creation of a nationwide auto-glass business by rapidly acquiring and integrating smaller companies into a single \u201cplatform,\u201d and (ii) operational execution and customer retention in the Company\u2019s critical car wash business. Specifically, the defendants are alleged to have \u201crepeatedly assured investors that the Company was executing on both of these key growth strategies and, as such, reaffirmed highly positive earnings growth projections.\u201d<\/p>\n<p align=\"left\">As detailed in the complaint, on August 2, 2023, Driven was forced to slash its guidance by an astonishing 24% and admit that, far from making \u201csignificant progress\u201d in integrating its auto-glass network, the company\u2019s integration was actually \u201cseveral quarters behind\u201d and, as a result, the Company would have to shrink the scope of its auto-glass network by a third. In addition, Driven finally disclosed substantially declining same store car wash sales driven by \u201csignificant competitive . . . growth.\u201d Indeed, just a few weeks later, Driven would write-down its car wash segment by nearly $1 billion, equal to more than 10% of Driven\u2019s entire asset value as of the end of 2022. <strong><em>Following this news, shares of Driven\u2019s stock fell $10.63 per share, or over 41% in value, to close on August 2, 2023 at $15.20 per share, on unusually heavy trading volume. <\/em><\/strong><\/p>\n<p align=\"left\">The investigation seeks to determine whether the members of Driven\u2019s board of directors violated the securities laws and\/or breached their fiduciary duties in connection with the above alleged misconduct.<\/p>\n<p align=\"left\">\n        <strong><br \/>\n          <em>Driven shareholders who purchased or acquired their currently held shares of DRVN stock <\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em><br \/>\n            <u>prior to August 1, 2023<\/u><br \/>\n          <\/em><br \/>\n        <\/strong><br \/>\n        <strong><br \/>\n          <em> are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 \u2013 0750 for additional information about this investigation and their legal rights and options. Alternatively, investors may submit their information to the firm by clicking on the following link (or if necessary, by copying and pasting the link into your browser):<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"left\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=UcaOdNN00haS3ktdtLk_7cx-e3HCZVdFRB1FagF9P1hOUcno0PCfgRU00YL75B7Jl8RffEbqGBmaZOR86OgtO6KAILLgGXgQEFP-DtSWZON9jDr50Ed8yVevVbW4ZkWFtc0UkOHVBWMEajpiu0nyURNJ0OdNyMGUa7zj6idNwLs=\" rel=\"nofollow\" target=\"_blank\"><br \/>\n          <strong><br \/>\n            <em>https:\/\/kaskelalaw.com\/case\/driven-brands-holdings\/<\/em><br \/>\n          <\/strong><br \/>\n        <\/a>\n      <\/p>\n<p align=\"left\">Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger &amp; acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=B53EYH9hSUVq-mia-kZSe-vcqBL6sMcHUT3IyicbBfCFCmC8SVNfyeCklz0BxztKn0j7ckzSqzHULhOaEkJNGyU-2vzsEYTBurrutMMNlJE=\" rel=\"nofollow\" target=\"_blank\">www.kaskelalaw.com<\/a>.<\/p>\n<p align=\"left\">\n        <strong>CONTACT:<\/strong>\n      <\/p>\n<p align=\"left\">\n        <strong>KASKELA LAW LLC<\/strong><br \/>\n        <br \/>D. Seamus Kaskela, Esq.<br \/>(<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=pqxPgmA6nk5WsjR-strZT_tKNqnY2Jxhdtf843KB0cI-RVTknsBXhE8pKnskk65rJS7J6y-B-2K53FU9bKF7y2fbXccgQJgJbmYxU9PiSNY=\" rel=\"nofollow\" target=\"_blank\">skaskela@kaskelalaw.com<\/a>)<br \/>Adrienne Bell, Esq.<br \/>(<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=i7Rl3Tu43XiPUuU3T43wnCWuvmqEc46Bda2ABs-cf6S4UWjhvJrvNk7bEa_yCOgrkTX46veelpcCCdEB6MPRDe7oLZbYrhBHUa6zts0ovX0=\" rel=\"nofollow\" target=\"_blank\">abell@kaskelalaw.com<\/a>)<br \/>18 Campus Blvd., Suite 100<br \/>Newtown Square, PA 19073<br \/>(888) 715 \u2013 1740<br \/>(484) 229 \u2013 0750<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=B53EYH9hSUVq-mia-kZSe3wpH85Cy8MOPFEOsy9adz-I4BCVU5MGRw8sehniHKW1fu7PwDvhGl9GhAUsMy9kGXtKUeYy7Esi92vdYj0EjA8=\" rel=\"nofollow\" target=\"_blank\">www.kaskelalaw.com<\/a><\/p>\n<p align=\"left\">This notice may constitute attorney advertising in certain jurisdictions.\u00a0\u00a0<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTM1OTMxNSM2NzUzNTc0IzIwOTk5MzU=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/MTIxMzJlMGUtMGY4My00ZTYwLWE1YmQtYmY1Zjg4MDFkMWZiLTExMTE1MDY=\/tiny\/Kaskela-Law.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>PHILADELPHIA, Feb. 17, 2025 (GLOBE NEWSWIRE) &#8212; Kaskela Law LLC announces that it is investigating Driven Brands Holdings Inc. (NASDAQ: DRVN) (\u201cDriven\u201d) on behalf of the company\u2019s long-term investors. Click here for additional information: https:\/\/kaskelalaw.com\/case\/driven-brands-holdings\/ Recently a securities fraud complaint was filed against Driven on behalf of investors who purchased shares of the company\u2019s stock between October 27, 2021 and August 1, 2023. According to the complaint, during that time period Driven and certain of the company\u2019s senior executive officers made a series of materially false and misleading statements, and omitted to disclose material adverse information, concerning the Company\u2019s two most important growth initiatives: (i) the creation of a nationwide auto-glass business by rapidly acquiring and integrating smaller companies into &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kaskela-law-llc-announces-investigation-of-driven-brands-holdings-inc-nasdaq-drvn-and-encourages-long-term-investors-to-contact-the-firm\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Driven Brands Holdings, Inc. (NASDAQ: DRVN) and Encourages Long-Term Investors to Contact the Firm&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-813713","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Driven Brands Holdings, Inc. (NASDAQ: DRVN) and Encourages Long-Term Investors to Contact the Firm - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kaskela-law-llc-announces-investigation-of-driven-brands-holdings-inc-nasdaq-drvn-and-encourages-long-term-investors-to-contact-the-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Driven Brands Holdings, Inc. (NASDAQ: DRVN) and Encourages Long-Term Investors to Contact the Firm - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PHILADELPHIA, Feb. 17, 2025 (GLOBE NEWSWIRE) &#8212; Kaskela Law LLC announces that it is investigating Driven Brands Holdings Inc. (NASDAQ: DRVN) (\u201cDriven\u201d) on behalf of the company\u2019s long-term investors. Click here for additional information: https:\/\/kaskelalaw.com\/case\/driven-brands-holdings\/ Recently a securities fraud complaint was filed against Driven on behalf of investors who purchased shares of the company\u2019s stock between October 27, 2021 and August 1, 2023. According to the complaint, during that time period Driven and certain of the company\u2019s senior executive officers made a series of materially false and misleading statements, and omitted to disclose material adverse information, concerning the Company\u2019s two most important growth initiatives: (i) the creation of a nationwide auto-glass business by rapidly acquiring and integrating smaller companies into &hellip; Continue reading &quot;SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Driven Brands Holdings, Inc. 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Click here for additional information: https:\/\/kaskelalaw.com\/case\/driven-brands-holdings\/ Recently a securities fraud complaint was filed against Driven on behalf of investors who purchased shares of the company\u2019s stock between October 27, 2021 and August 1, 2023. According to the complaint, during that time period Driven and certain of the company\u2019s senior executive officers made a series of materially false and misleading statements, and omitted to disclose material adverse information, concerning the Company\u2019s two most important growth initiatives: (i) the creation of a nationwide auto-glass business by rapidly acquiring and integrating smaller companies into &hellip; Continue reading \"SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Driven Brands Holdings, Inc. 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