Driven Brands (US:DRVN) Prnewswire·2026-02-27 13:16Core Viewpoint - Driven Brands Holdings Inc. is under investigation for potential claims due to significant financial reporting errors that led to a 30% drop in its stock price [1] Financial Reporting Issues - Driven Brands delayed its fourth-quarter release due to material errors in financial statements for fiscal years 2023 and 2024 [1] - The company disclosed that its previously issued financial statements should not be relied upon and require restatement [1] - Errors identified include lease recording issues affecting right of use assets and liabilities, cash account discrepancies leading to overstatements of cash and revenue, and overstated company-operated store expenses [1] Internal Control Weaknesses - Driven Brands identified material weaknesses in internal control over financial reporting [1] - The Report of its Independent Registered Public Accounting Firm on the financial statements and internal control should not be relied upon [1]