Law Offices of Howard G. Smith continues its investigation on behalf of Driven Brands Holdings Inc. (“Driven Brands” or the “Company”) (NASDAQ: DRVN) investors concerning the Company’s possible violations of federal securities laws.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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