Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Vestis Corporation (NYSE: VSTS) regarding a class action lawsuit due to alleged misleading statements and operational deficiencies during the class period from October 2, 2023, to May 1, 2024 [1][2]. Summary by Relevant Sections Allegations - The complaint alleges that during the class period, Vestis Corporation's management made materially false and misleading statements, failing to disclose critical issues such as: - Aramark's historical underinvestment in the business that became Vestis [2] - Vestis operating with outdated facilities and an underperforming sales force [2] - These operational deficiencies led to "service gaps," hindering growth and resulting in customer attrition [2] - Consequently, the defendants' statements regarding Vestis's business, operations, and prospects were materially false and lacked a reasonable basis [2] Class Action Details - The class period for the lawsuit is defined as October 2, 2023, to May 1, 2024 [2] - The deadline for shareholders to register for the class action is July 16, 2024 [3][4] - Shareholders are encouraged to register to potentially become lead plaintiffs, although this is not a requirement for recovery [1][4] Next Steps for Shareholders - Registered shareholders will be enrolled in a portfolio monitoring software to receive updates throughout the case [4] - Participation in the case incurs no cost or obligation for shareholders [4]
Contact The Gross Law Firm by July 16, 2024 Deadline to Join Class Action Against Vestis Corporation(VSTS)