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DRIVEN BRANDS INVESTIGATION CONTINUED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Driven Brands Holdings Inc. - DRVN

1. Driven Brands missed Q2 2023 earnings expectations, impacting its stock outlook. 2. Integration delays in Glass segment caused full-year earnings guidance cut. 3. Securities lawsuit against executives continues, raising fiduciary duty concerns. 4. Car Wash business faced intensified competition, affecting demand and performance. 5. KSF law firm is investigating potential breaches of federal and state laws.

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Why Very Bearish?

The missed earnings and ongoing lawsuit indicate significant operational challenges. Historical examples include firms facing shareholder lawsuits experiencing sharp stock drops due to loss of trust.

How important is it?

The article details significant negative developments directly impacting Driven's financial stability and legal standing.

Why Short Term?

Immediate investor reaction may lead to stock volatility in the short term. Examples include similar cases where earnings misses triggered significant stock declines rapidly.

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CARWGPROGOEV
, /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF continues its investigation into Driven Brands Holdings Inc. (NasdaqGS: DRVN). On August 2, 2023, the Company disclosed 2Q2023 earnings that missed expectations, including disappointing results for its Glass business segment, that was at least "several quarters" behind on its integration of the businesses it had acquired, its Car Wash segment that suffered from increased exposure to "intensified competitive intrusion" that negatively impacted demand, as well as its Paint and Collision segments. As a result of delays in its integration of its acquired auto glass businesses and the faltering performance of its car wash businesses, the Company slashed its full-year earnings guidance for fiscal 2023, despite prior affirmations of the same. Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information, violating federal securities laws. Recently, the court presiding over the case denied the Company's motion to dismiss the case, allowing the case to continue. KSF's investigation is focusing on whether Driven's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws. If you have information that would assist KSF in its investigation, or have been a long-term holder of Driven shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit us at https://www.ksfcounsel.com/cases/nasdaqgs-drvn/ to learn more. About Kahn Swick & Foti, LLC KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg. To learn more about KSF, you may visit ksfcounsel.com. Contact:Kahn Swick & Foti, LLCLewis Kahn, Managing Partner[email protected]1-877-515-18501100 Poydras St., Suite 960New Orleans, LA 70163 SOURCE Kahn Swick & Foti, LLC WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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