Vestis (US:VSTS) Prnewswireยท2025-08-07 13:51Core Insights - The complaint alleges that Vestis and its executives violated federal securities laws by making materially false and misleading statements regarding the company's growth potential and strategic initiatives [2] - 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 these issues to lost business and a challenging macro environment [3] Financial Performance - On May 7, 2025, Vestis reported a significant decline in stock price, dropping from $8.71 per share on May 6 to $5.44 per share on May 7, representing a decrease of approximately 37.54% in one day [3] Legal Proceedings - The lead plaintiff in the class action lawsuit is the investor with the largest financial interest, who will oversee the litigation on behalf of the class [4] - The law firm Faruqi & Faruqi encourages individuals with information about Vestis' conduct to come forward, including whistleblowers and former employees [5]