Driven Brands (US:DRVN) Businesswire·2026-03-13 18:02Core Viewpoint - Driven Brands Holdings Inc. (DRVN) is facing a class action lawsuit due to significant errors in its financial statements, which led to a substantial drop in stock price and investor losses [1] Group 1: Lawsuit Details - The class action lawsuit is on behalf of investors who purchased Driven Brands common stock between May 9, 2023, and February 24, 2026, with a deadline to file a lead plaintiff motion by May 8, 2026 [1] - The lawsuit alleges that the company made materially false and misleading statements and failed to disclose adverse facts about its business and operations [1] - Specific errors identified include inappropriate revenue recognition, unreconciled cash account differences, and overstatements of expenses, among others [1] Group 2: Financial Impact - Following the disclosure of financial errors on February 25, 2025, Driven Brands' stock price fell by $5.01, or 30.2%, closing at $11.60 per share [1] - The company indicated that it may identify further material errors in its financial statements, which could lead to additional financial restatements [1] Group 3: Investor Actions - Investors who suffered losses are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights and potentially participate in the class action [1] - The law firm provides contact information for investors to inquire about their rights and the ongoing lawsuit [1]