Vestis (US:VSTS) GlobeNewswire News Room·2025-08-01 20:29Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Vestis Corporation regarding a class action lawsuit due to allegations of misleading statements and failure to meet growth expectations [1][3]. Summary by Relevant Sections Allegations - The complaint alleges that Vestis Corporation provided overly positive statements while concealing material adverse facts about its business growth capabilities. Specifically, it was claimed that Vestis would struggle to execute strategic initiatives aimed at improving customer experience and driving new customer growth [3]. Financial Performance - On May 7, 2025, Vestis announced disappointing financial results for Q2 of fiscal 2025, withdrawing its revenue and growth guidance for the full fiscal year. The company reported a significant decline in stock price, dropping 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 [3]. Class Action Details - The class period for the lawsuit is defined as May 2, 2024, to May 6, 2025. Shareholders are encouraged to register for participation in the class action, with a deadline set for August 8, 2025. Registration allows shareholders to receive updates on the case [3][4]. Law Firm's Commitment - The Gross Law Firm emphasizes its mission to protect investors' rights against deceit and fraud, seeking recovery for those who suffered losses due to misleading statements that inflated stock prices [5].