Vestis (US:VSTS) Prnewswire·2025-07-17 13:00Core Viewpoint - The Gross Law Firm is notifying shareholders of Vestis Corporation regarding a class action lawsuit due to allegations of misleading statements and failure to meet growth expectations, leading to a significant drop in stock price [1][2]. Group 1: Allegations and Financial Impact - The class period for the allegations is from May 2, 2024, to May 6, 2025, during which Vestis Corporation allegedly provided overly positive statements while concealing material adverse facts about its business growth capabilities [2]. - On May 7, 2025, Vestis announced disappointing financial results for Q2 2025, withdrew its revenue guidance for the full fiscal year, and provided lower-than-expected guidance for Q3 2025, attributing the poor performance to "lost business in excess of new business" and "lower adds over stops" [2]. - 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 [2]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action lawsuit by the deadline of August 8, 2025, to potentially become lead plaintiffs and receive updates on the case [3]. - Registration involves no cost or obligation, and participants will be enrolled in a portfolio monitoring system for status updates throughout the case lifecycle [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices [4].