The Law Offices of Frank R. Cruz continues its investigation of Driven Brands Holdings Inc. (“Driven Brands” or the “Company”) (NASDAQ: DRVN) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On August 2, 2023, Driven Brands announced disappointing financial results for the second quarter of 2023 and lowered its full year 2023 guidance. The Company claimed that increased competition in the car wash business was to blame. Additionally, Driven Brands disclosed that it is “a few quarters behind” in integrating two auto glass acquisitions.
On this news, Driven Brand’s stock price fell $10.63, or 41.2%, to close at $15.20 per share on August 2, 2023, thereby injuring investors.
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If you purchased Driven Brands securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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