Driven Brands (US:DRVN) Globenewswire·2026-03-12 13:41Core Viewpoint - A class action lawsuit has been filed against Driven Brands Holdings Inc. for allegedly misleading investors about its financial condition during the specified Class Period from May 9, 2023, to February 24, 2026 [1][4]. Company Overview - Driven Brands, headquartered in Charlotte, NC, is the largest automotive services company in North America, offering services such as oil changes, maintenance, collision repair, glass repair, and car wash services through brands like Meineke, Maaco, and Take 5 Oil Change [3]. Legal Allegations - The lawsuit claims that Driven Brands misled investors regarding its financial health, particularly by overstating revenue and cash in prior financial statements, which necessitated restatement [4]. - On February 25, 2026, Driven Brands announced a delay in filing its annual report on Form 10-K for fiscal year 2025 due to "material errors in previously issued financial statements" dating back to 2023 [4]. Market Reaction - Following the disclosure of the financial misstatements, Driven Brands' share price experienced a nearly 40% decline [5].