Core Viewpoint - Vestis Corporation is facing a class action lawsuit due to allegations of providing misleading statements about its business growth and performance, leading to a significant drop in stock price following disappointing financial results [3][4]. Summary by Relevant Sections Allegations - The complaint against Vestis Corporation claims that the company made overwhelmingly positive statements while concealing material adverse facts about its business growth capabilities [3]. - Specifically, it is alleged that Vestis would be unable to execute planned strategic initiatives aimed at improving customer experience and driving new customer growth [3]. Financial Performance - On May 7, 2025, Vestis announced its second-quarter financial results for fiscal 2025, withdrawing its revenue and growth guidance for the full year [3]. - The company reported that its poor performance was due to "lost business in excess of new business" and "lower adds over stops," indicating a decline in volume changes with existing customers [3]. - Following this 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 just one day [3]. Class Action Details - Shareholders who purchased shares of Vestis during the class period from May 2, 2024, to May 6, 2025, are encouraged to register for the class action lawsuit [4]. - The deadline for shareholders to seek lead plaintiff status is August 8, 2025, and there is no cost or obligation to participate in the case [4]. Law Firm Information - The Gross Law Firm, which is handling the class action, is a nationally recognized firm dedicated to protecting investors' rights against deceit and fraud [5].
Investors in Vestis Corporation Should Contact The Gross Law Firm Before August 8, 2025 to Discuss Your Rights – VSTS