Vestis (US:VSTS) Prnewswireยท2025-06-15 14:02Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Vestis Corporation due to allegations of violations of federal securities laws, particularly concerning misleading statements about the company's growth and business strategies [2][4]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is encouraging investors who suffered losses exceeding $75,000 in Vestis between May 2, 2024, and May 6, 2025, to discuss their legal options [1]. - A federal securities class action has been filed against Vestis, with a deadline of August 8, 2025, for investors to seek the role of lead plaintiff [2][6]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Vestis' conduct [7]. Group 2: Financial Performance and Stock Impact - On May 7, 2025, Vestis announced disappointing financial results for Q2 2025, withdrawing its revenue and growth guidance for the full fiscal year [5]. - The company attributed its poor performance to "lost business in excess of new business" and "lower adds over stops," indicating challenges in customer retention and growth [5]. - Following the announcement, Vestis' stock price plummeted from $8.71 per share on May 6, 2025, to $5.44 per share on May 7, 2025, marking a decline of approximately 37.54% in one day [5].