Driven Brands Holdings Inc.
08/04/2023
The law firm of Kirby McInerney LLP is investigating potential claims against Driven Brands Holdings Inc. (“Driven” or the “Company”) (NASDAQ: DRVN). The investigation concerns whether Driven and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Driven provides automotive services, such as paint, collision, glass, vehicle repair, oil change, maintenance, and car wash services.
On August 2, 2023, Driven reported its financial results for the quarter ended July 1, 2023, and reduced its guidance for fiscal year 2023, attributing the results to “the performance of our Car Wash segment, which has been impacted by softer consumer demand, and our U.S. glass business, which has been impacted by integration delays.” On this news, the price of Driven shares declined by $10.63 per share, or approximately 41.15%, from $25.83 per share to close at $15.20 on August 2, 2023.
Driven provides automotive services, such as paint, collision, glass, vehicle repair, oil change, maintenance, and car wash services.
On August 2, 2023, Driven reported its financial results for the quarter ended July 1, 2023, and reduced its guidance for fiscal year 2023, attributing the results to “the performance of our Car Wash segment, which has been impacted by softer consumer demand, and our U.S. glass business, which has been impacted by integration delays.” On this news, the price of Driven shares declined by $10.63 per share, or approximately 41.15%, from $25.83 per share to close at $15.20 on August 2, 2023.