Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Driven Brands (DRVN) To Contact Him Directly To Discuss Their Options
If you purchased or acquired Driven Brands common stock between May 9, 2023, and February 24, 2026 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Melissa Fortunato directly at (212) 355-4648.
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NEW YORK, March 09, 2026 (GLOBE NEWSWIRE) --
What’s Happening:
- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Driven Brands Holdings Inc. (“Driven Brands” or the “Company”) (NASDAQ:DRVN) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Driven Brands common stock between May 9, 2023, and February 24, 2026, both dates inclusive (the “Class Period”). Investors have until May 8, 2026 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Allegation Details:
- According to the complaint, defendants failed to disclose that: (i) there were errors relating to the recording of leases which primarily impacted the right of use assets and right of use liabilities recorded in the consolidated balance sheet as of December 28, 2024, and September 27, 2025; (ii) there were errors in reporting opening and ending cash balances and operating cash flows, which resulted in overstatements of cash and revenue and understatement of selling, general and administrative expense in consolidated statement of operations for fiscal years 2023 and 2024; (iii) supply and other expenses were improperly presented as company-operated store expenses in fiscal years 2023 and 2024; (iv) other errors were identified relating to income tax provision; (v) supply and other revenue; (vi) fixed assets; (vii) cloud computing; (viii) lease cash applications; (ix) balance sheet and income statement misclassifications; (x) and improperly recognized revenue in Driven Brands’ ATI business primarily related to fiscal year 2025.
- On February 25, 2026, Driven Brands revealed that "the Audit Committee of the Board of Directors . . . concluded there were material errors in our previously issued consolidated financial statements for the fiscal year ended December 28, 2024 . . . and the fiscal year ended December 30, 2023 . . . and in our previously issued unaudited condensed consolidated financial statements for each of the quarterly and year-to-date periods within fiscal year 2024 as well as the quarterly and year-to-date periods for the periods ended September 27, 2025, June 28, 2025 and March 29, 2025, and concluded that such financial statements should not be relied upon and required restatement." Driven Brands further disclosed that "[i]n connection with" this announcement, Driven Brands would also be delaying the release of its financial results for the fourth quarter and year ended December 27, 2025. On this news, the price of Driven Brands shares fell approximately 30%.
Next Steps:
- If you purchased or otherwise acquired Driven Brands shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, South Carolina, and California. The firm represents individual and institutional investors in securities, derivative, and commercial litigation as well as individuals in consumer protection and data privacy litigation. The firm has a nationwide practice and routinely handles cases in both federal and state courts. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes. Follow us for updates on LinkedIn and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
