SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Driven Brands Holdings, Inc. (NASDAQ: DRVN) and Encourages Long-Term Investors to Contact the Firm

Core Viewpoint - Kaskela Law LLC is investigating Driven Brands Holdings Inc. for potential securities fraud related to misleading statements made by the company and its executives regarding key growth initiatives and financial performance [2][3]. Summary by Relevant Sections Securities Fraud Allegations - A securities fraud complaint has been filed against Driven Brands on behalf of investors who purchased shares between October 27, 2021, and August 1, 2023, alleging that the company made materially false and misleading statements and omitted critical information regarding its auto-glass business and car wash operations [2]. - The complaint highlights that Driven's executives assured investors of progress in their growth strategies, which were later revealed to be significantly behind schedule, leading to a 24% reduction in guidance on August 2, 2023 [2]. Financial Impact - Following the announcement of the guidance cut, Driven disclosed a substantial decline in same-store car wash sales and a nearly $1 billion write-down in its car wash segment, representing over 10$10.63, or over 41%, closing at $15.20 per share on August 2, 2023, amid unusually high trading volume [2]. Investigation Focus - The investigation aims to determine if Driven's board of directors violated securities laws or breached fiduciary duties in connection with the alleged misconduct [3].