Core 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 prospects and business performance [2][4]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi, LLP is encouraging investors who suffered losses in Vestis between May 2, 2024, and May 6, 2025, to discuss their legal rights [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 has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. Group 2: Allegations Against Vestis - The complaint alleges that Vestis and its executives disseminated materially false and misleading statements regarding the company's ability to grow its business [4]. - Vestis announced poor financial results for Q2 of fiscal 2025, withdrawing its revenue and growth guidance for the full fiscal year, attributing the decline to "lost business in excess of new business" and "lower adds over stops" [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]. Group 3: Investor Communication - Faruqi & Faruqi, LLP is encouraging anyone with information regarding Vestis' conduct, including whistleblowers and former employees, to contact the firm [7].
Faruqi & Faruqi Reminds Vestis Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of August 8, 2025 - VSTS