Driven Brands (US:DRVN) TMX Newsfile·2026-03-30 23:06Core Viewpoint - Driven Brands Holdings Inc. is facing a federal securities class action due to allegations of false and misleading statements regarding its financial condition and internal controls over financial reporting [4][5]. Group 1: Legal Action and Investigation - Faruqi & Faruqi, LLP is investigating potential claims against Driven Brands and reminds investors of the May 8, 2026 deadline to seek the role of lead plaintiff in the class action [2]. - The complaint alleges that Driven Brands and its executives violated federal securities laws by failing to disclose inaccuracies in financial reports filed with the SEC from May 9, 2023, to November 5, 2025 [4]. - The firm encourages anyone with information regarding Driven Brands' conduct to contact them, including whistleblowers and former employees [8]. Group 2: Financial Misstatements and Impact - Driven Brands announced a delay in releasing its fiscal year 2025 financial results and will restate its financial statements for 2023 and all quarterly and full-year financial statements for 2024 due to material accounting errors [5]. - The company identified material weaknesses in its internal controls over financial reporting, which contributed to the inaccuracies [5]. - Following the announcement of these issues, Driven Brands' stock price dropped over 30% on February 25, 2026 [6].