SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Driven Brands Holdings Inc. - DRVN

NEW YORK, Feb. 7, 2024

The class action concerns whether Driven and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until February 20, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Driven securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action] 

On May 8, 2023, Driven announced that, on May 4, 2023, the Company's former Chief Financial Officer, Tiffany L. Mason ("Mason"), abruptly and inexplicably left the Company, just one day after Driven reported its financial results for the first quarter of 2023 and Mason participated in the Company's corresponding earnings call. In the wake of Mason's abrupt departure, Driven reaffirmed its financial guidance for fiscal 2023. 

Then, on August 2, 2023, Driven reported earnings for the second quarter of 2023 that missed expectations, including disappointing results for both its Paint, Collision and Glass and Car Wash business segments. The Company also slashed its earnings guidance for fiscal 2023. Driven attributed its earnings miss and guidance cut to delays in the integration of its acquired auto glass businesses and increased exposure to "intensified competitive intrusion" in its Car Wash segment, which negatively impacted consumer demand and the Company's margins.