DRIVEN BRANDS INVESTIGATION CONTINUED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Driven Brands Holdings Inc. - DRVN

Core Viewpoint - Driven Brands Holdings Inc. is under investigation by Kahn Swick & Foti, LLC due to disappointing earnings and potential breaches of fiduciary duties by its executives [1][3]. Financial Performance - In Q2 2023, Driven Brands reported earnings that missed expectations, particularly in its Glass business segment, which is lagging in integration of acquired businesses [2]. - The Car Wash segment faced increased competition, negatively impacting demand, while the Paint and Collision segments also underperformed [2]. - As a result of these issues, the company reduced its full-year earnings guidance for fiscal 2023, despite previous affirmations [2]. Legal Issues - Following the disappointing earnings report, Driven Brands and certain executives were sued in a securities class action lawsuit for failing to disclose material information and violating federal securities laws [3]. - The court has denied the company's motion to dismiss the case, allowing the lawsuit to proceed [3]. - KSF's investigation is focused on whether the company's officers or directors breached their fiduciary duties to shareholders or violated state or federal laws [3].