DRVN Stock Drop: Driven Brands Investors with Losses Notified of Rights in Pending Securities Class Action After Stock Plummeted 39% Accessibility StatementSkip Navigation Driven Brands faces securities fraud allegations for issuing materially false financial statements and failing to maintain effective internal controls, triggering a nearly 40% stock drop; investor deadline May 8, 2026. NEW YORK, March 24, 2026 /PRNewswire/ -- Leading securities law firm Bleichmar Fonti & Auld LLPannounces that a class act ...

DRVN Investor Alert: Driven Brands Holdings Inc. Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Allegedly Concealing Pervasive Accounting Errors: Levi & Korsinsky Accessibility StatementSkip NavigationThe Red Flags: What Insiders Allegedly Knew Before Shareholders DidNEW YORK, March 18, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP announces that a securities class action has been filed against Driven Brands Holdings Inc. (NASDAQ: DRVN).YOU MAY BE AFFECTED IF YOU:Lost ...

Core Viewpoint - Driven Brands Holdings Inc. experienced a significant decline in share value, dropping over 30% after announcing a delay in FY 2025 earnings and the need for restatement of prior fiscal results due to accounting errors [1] Financial Performance - CFO Mike Diamond projected adjusted EBITDA for FY 2025 to be between $525 million and $535 million, with adjusted diluted EPS expected to range from $1.23 to $1.28 [1] - The adjusted figures were based on financials that were later acknowledged by the company as incorrect, leading to the need for restatement [1] Market Reaction - The announcement of the restatement and earnings delay resulted in a single-day decline of more than one-third of Driven Brands' market value on February 25, 2026 [1]

Core Points - The UK Financial Reporting Council (FRC) is considering a formal investigation into PwC's audit work for WHSmith due to accounting errors identified in the retailer's US operations [1][2] - WHSmith has relied on PwC as its auditor since 2015, and Deloitte's independent review found that revenues were overstated across multiple years [1][3] - Following the disclosure of these errors, WHSmith's market value decreased by nearly £600 million, and the group chief executive Carl Cowling stepped down [3] Investigation Details - The errors were raised by a finance team member in August, leading PwC to refer WHSmith's public announcement to the FRC [2] - A final decision on whether to proceed with a formal inquiry into PwC's audits has not yet been made [2] Audit Findings - Deloitte's review indicated that a target-driven performance culture in North America and limited oversight of finance processes contributed to the accounting issues [4] - Deloitte found that income was recorded prematurely when agreements were made, rather than spreading recognition over time, resulting in inflated profits [5] Financial Impact - Deloitte determined that the accounting issues would have a greater impact on reported profits than previously expected, prompting WHSmith to restate its full-year 2023 and 2024 earnings [6] - The trading profit forecast for WHSmith's US business was revised downwards to £5 million–£15 million for 2025, compared to £25 million announced in August [6]