NEW YORK, March 27, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Driven Brands Holdings Inc. (NASDAQ:DRVN) and certain of the Company’s senior executives for securities fraud after the Company disclosed widespread accounting errors and internal control failures, causing its stock to drop nearly 40%. If you invested in Driven Brands, you are encouraged to obtain additional information by visiting: https://www.bfal ...

NEW YORK, March 25, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Driven Brands Holdings Inc. (NASDAQ:DRVN) and certain of the Company’s senior executives for securities fraud after the Company disclosed widespread accounting errors and internal control failures, causing its stock to drop nearly 40%. If you invested in Driven Brands, you are encouraged to obtain additional information by visiting: https://www.bfal ...

NEW YORK, March 23, 2026 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a class action lawsuit has been filed against Driven Brands Holdings Inc. (NASDAQ:DRVN) and certain of the Company’s senior executives for securities fraud after the Company disclosed widespread accounting errors and internal control failures, causing its stock to drop nearly 40%. If you invested in Driven Brands, you are encouraged to obtain additional information by visiting: https://www.bfal ...

Core Viewpoint - A class action lawsuit has been filed against Driven Brands Holdings Inc. for securities fraud due to significant accounting errors and internal control failures, resulting in a nearly 40% drop in stock price [1][4][10]. Group 1: Lawsuit Details - The lawsuit is pending in the U.S. District Court for the Southern District of New York, titled Clark v. Driven Brands Holdings Inc., et al., 1:26-cv-01902 [4]. - Investors have until May 8, 2026, to request to be appointed to lead the case [4][10]. - The complaint alleges violations under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Driven Brands common stock [4]. Group 2: Reasons for the Lawsuit - Driven Brands, an automotive aftermarket services company, previously assured investors of the accuracy of its financial reporting and the effectiveness of its internal controls [5]. - Allegations indicate that these assurances were materially false and misleading due to pervasive accounting errors, including lease accounting issues, unreconciled cash balances, improperly classified expenses, and improperly recognized revenue from fiscal years 2023 to 2025 [6]. Group 3: Stock Performance Impact - On February 25, 2026, Driven Brands announced it would restate its financial statements for fiscal years 2023 and 2024, along with quarterly and year-to-date financials for 2025, after identifying numerous material accounting errors [7]. - Following this announcement, Driven Brands' stock price plummeted from $16.61 per share on February 24, 2026, to $9.99 per share on February 25, 2026, marking a decline of nearly 40% [8][10].

Core Viewpoint - A class action lawsuit has been filed against Driven Brands Holdings Inc. for securities fraud due to significant accounting errors and internal control failures, resulting in a nearly 40% drop in stock price [1][4][10] Company Overview - Driven Brands is an automotive aftermarket services company that operates and franchises various vehicle maintenance and repair brands [5] Allegations - The lawsuit claims that Driven Brands made materially false and misleading statements regarding the accuracy of its financial reporting and the effectiveness of its internal controls [6] - Specific accounting issues include lease accounting problems, unreconciled cash balances, misclassified expenses, and improperly recognized revenue from fiscal years 2023 to 2025 [6] Stock Performance - Following the announcement of the need to restate financial statements for fiscal years 2023 and 2024, and the quarterly and year-to-date financials for 2025, Driven Brands' stock plummeted from $16.61 per share on February 24, 2026, to $9.99 per share on February 25, 2026, marking a decline of approximately 39.8% [7][8][10] Legal Proceedings - Investors have until May 8, 2026, to request to lead the case in the U.S. District Court for the Southern District of New York, under the case caption Clark v. Driven Brands Holdings Inc., et al. [4][10]

Core Viewpoint - A class action lawsuit has been filed against Driven Brands Holdings Inc. for securities fraud due to significant accounting errors and internal control failures, resulting in a nearly 40% drop in stock price [1][4][10]. Company Overview - Driven Brands is an automotive aftermarket services company that operates and franchises various vehicle maintenance and repair brands [5]. Allegations - The lawsuit claims that Driven Brands made materially false and misleading statements regarding its financial reporting and internal controls, which were found to be ineffective [6][5]. - Specific accounting issues include lease accounting problems, unreconciled cash balances, misclassified expenses, and improperly recognized revenue from fiscal years 2023 to 2025 [6]. Stock Performance - Following the announcement of the need to restate financial statements for fiscal years 2023 and 2024, and the quarterly and year-to-date financials for 2025, Driven Brands' stock plummeted from $16.61 per share on February 24, 2026, to $9.99 per share on February 25, 2026, marking a decline of approximately 39.8% [7][8][10]. Legal Proceedings - Investors have until May 8, 2026, to request to be appointed as lead plaintiffs in the case, which is currently pending in the U.S. District Court for the Southern District of New York [4][10]. - The lawsuit is titled Clark v. Driven Brands Holdings Inc., et al., with the case number 1:26-cv-01902 [4].

Core Viewpoint - Scott+Scott Attorneys at Law LLP is investigating Driven Brands Holdings Inc. for potentially issuing misleading statements and failing to disclose material information to investors, which may violate federal securities laws [2]. Group 1: Investigation Details - The investigation focuses on whether Driven Brands misrepresented its financial reporting and results from 2023 to 2025, as well as the effectiveness of its internal controls over financial reporting [2]. - Driven Brands is an automotive aftermarket services company that owns, operates, and franchises various vehicle maintenance and repair brands [2]. Group 2: Stock Performance - Driven Brands announced on February 25, 2026, that it would delay the release of its fiscal year 2025 financial results and restate its financial statements for 2023, all quarterly and full-year financial statements for 2024, and the first three quarters of 2025 due to material accounting errors [2]. - Following this announcement, Driven Brands' stock price dropped over 30% on February 25, 2026 [2]. Group 3: Company Background - Scott+Scott Attorneys at Law LLP is recognized for its expertise in representing corporate clients and institutional investors harmed by violations of securities laws [2]. - The firm has a significant presence with 150 attorneys across multiple offices in the United States, Canada, and Europe, and has achieved notable monetary settlements for its clients [2].

Core Insights - Driven Brands Holdings Inc. reported an earnings per share (EPS) of $0.29, surpassing the estimated EPS of $0.27, while revenue was approximately $457.3 million, slightly below the estimated $458.6 million [1][5] Financial Performance - The company provided financial guidance for 2025, projecting revenue between $2.05 billion and $2.15 billion, adjusted EBITDA ranging from $520 million to $550 million, and adjusted diluted EPS between $1.15 and $1.25 [3] - The price-to-sales ratio is about 0.80, indicating the stock is valued at 80 cents for every dollar of sales [4] - The debt-to-equity ratio is approximately 3.47, suggesting a higher level of debt compared to equity [4] - The current ratio is approximately 0.90, indicating potential challenges in covering short-term liabilities with short-term assets [4] - The enterprise value to sales ratio is about 1.96, reflecting the company's total valuation relative to its sales [4] - The enterprise value to operating cash flow ratio is around 15.80, indicating how many times the operating cash flow can cover the enterprise value [4] Legal Issues - Driven Brands is under investigation by Bleichmar Fonti & Auld LLP for potential violations of federal securities laws, focusing on allegations of securities fraud related to financial restatements due to significant accounting errors between 2023 and 2025 [2] - These legal issues led to a 30% drop in DRVN's stock price on February 25, 2026 [2]

Core Viewpoint - Driven Brands Holdings Inc. is under investigation by BFA Law for potential violations of federal securities laws following a significant stock drop of over 30% due to the need to restate its financial statements for 2023-2025 [1][1]. Group 1: Investigation Details - BFA Law is investigating Driven Brands for securities fraud related to financial restatements caused by material accounting errors from 2023 to 2025 [1][1]. - The investigation focuses on whether Driven Brands misrepresented its financial reporting and the effectiveness of its internal controls over financial reporting [1][1]. Group 2: Stock Performance - Driven Brands' stock experienced a decline of over 30% on February 25, 2026, following the announcement of delays in releasing its fiscal year 2025 financial results and the need to restate prior financial statements [1][1]. - The restatement includes financial statements for 2023, all quarterly and full-year financial statements for 2024, and the first three quarters of 2025 due to various accounting errors [1][1]. Group 3: Nature of Accounting Errors - The identified accounting errors include lease accounting errors, unreconciled cash account differences, expense misclassifications, and inappropriately recognized revenue [1][1]. - Driven Brands has also disclosed material weaknesses in its internal controls over financial reporting [1][1].

Core Insights - Autozi Internet Technology (Global) Ltd. has secured a strategic investment of $90 million from CDIB at a share price of $3.50, marking a significant step in their partnership [1][2][3] Investment Details - The investment signifies the commencement of a deeper collaboration between Autozi and CDIB, focusing on areas such as digitalization of the automotive aftermarket, intelligent risk control, data asset operations, and international expansion [2][3] - This partnership aims to enhance Autozi's competitiveness in global capital markets and the automotive industry value chain [2] Management Statements - Autozi's management highlighted that CDIB's investment reflects strong recognition from international capital markets regarding their business model and growth prospects, significantly strengthening their capital position [3] - The investment supports Autozi's initiatives in digital transformation, innovation-driven business expansion, and potential mergers and acquisitions [3] CDIB's Perspective - CDIB expressed confidence in Autozi's strategic positioning and growth resilience within the automotive aftermarket services and digital operations space, believing that the partnership will unlock greater growth opportunities in both China and international markets [3] Company Overview - Autozi operates as a technology-driven provider of comprehensive automotive e-commerce solutions, utilizing advanced internet technologies and big data analytics to offer value-added services such as new car sales, parts procurement, and logistics coordination [4] - The company's goal is to enhance the efficiency of the entire automotive industry chain while reducing operational costs [4]