Vestis (US:VSTS) Prnewswireยท2025-08-04 12:45Core 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 allegedly provided overly positive statements while concealing 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 and lower customer volume [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 by August 8, 2025, to participate in the case without any cost or obligation [3]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the status of the case [3]. Group 3: Law Firm's Commitment - The Gross Law Firm aims to protect investors' rights against deceit and fraud, ensuring companies adhere to responsible business practices [4].