Philadelphia, Pennsylvania--(Newsfile Corp. - March 24, 2026) - National plaintiffs' law firm Berger Montague PC announces a class action lawsuit against Driven Brands Holdings Inc. (NASDAQ: DRVN) ("Driven Brands" or the "Company") on behalf of investors who purchased or acquired Driven Brands shares during the period from May 9, 2023 through February 24, 2026 (the "Class Period").Investor Deadline: Investors who purchased or acquired Driven Brands securities during the Class Period may, no later than May ...

Core 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].

Core Viewpoint - A class action lawsuit has been filed against Driven Brands Holdings Inc. for allegedly misleading investors regarding its financial condition, leading to significant stock price declines and investor losses [1][4][5]. Group 1: Lawsuit Details - The lawsuit is initiated by Berger Montague PC on behalf of investors who acquired Driven Brands shares between May 9, 2023, and February 24, 2026 [1]. - Investors have until May 8, 2026, to seek appointment as lead plaintiff representatives [2]. - The lawsuit claims that Driven Brands misrepresented its financial health, necessitating a restatement of financial statements due to material errors [4]. Group 2: Financial Condition and Impact - Driven Brands announced a delay in filing its annual report for fiscal year 2025 due to "material errors in previously issued financial statements" from 2023 [4]. - The company identified at least ten categories of errors, including overstated revenue and cash [4]. - Following the revelation of these financial discrepancies, Driven Brands' shares fell nearly 40%, resulting in substantial losses for investors [5]. Group 3: Company Overview - Driven Brands, based in Charlotte, North Carolina, 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 various brands [3].