{"success":true,"data":{"pressRelease":{"id":"11873","rtpr_id":"nGNX7dM2P9","ticker":"DRVN","exchange":"NASDAQ","all_tickers":["DRVN"],"title":"INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Driven Brands Holdings Inc. of Class Action Lawsuit and Upcoming Deadlines – DRVN","author":"Globe Newswire","published_at":"2026-04-28T21:14:32.084Z","article_body":"NEW YORK, April 28, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a\nclass action lawsuit has been filed against Driven Brands Holdings Inc.\n(“Driven” or the “Company”) (NASDAQ: DRVN).  Such investors are\nadvised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980,\n(or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are\nencouraged to include their mailing address, telephone number, and the number\nof shares purchased. \n\nThe class action concerns whether Driven and certain of its officers and/or\ndirectors have engaged in securities fraud or other unlawful business\npractices. \n\nYou have until May 11, 2026, to ask the Court to appoint you as Lead Plaintiff\nfor the class if you purchased or otherwise acquired Driven securities during\nthe Class Period. A copy of the Complaint can be obtained at\nwww.pomerantzlaw.com.          \n\n[Click here for information about joining the class action]\n(https://www.globenewswire.com/Tracker?data=ICUj0PhhSOoUXvzXZW3-Z__KmN5rzcWC8H-7ZOrmAoaJMhkLRaHuPlxtvh4V8bE6akHl-mZyVFCM10dYZtmx71us-JppfQ7KfHodiuqIfl4X6hXXOmiKkuTzr6mv9-WNlDY0jFmI9GTF91u3DPJs5QIyK9Vj6162HV-8xWmHYcdUiG1mKq7TMHpl0xE9jVry)  \n\nOn February 25, 2026, Driven filed a Notice of Non-Reliance with the U.S.\nSecurities and Exchange Commission, disclosing that “there were material\nerrors in our previously issued consolidated financial statements for the\nfiscal year ended December 28, 2024 (‘fiscal year 2024’) and the fiscal\nyear ended December 30, 2023 (‘fiscal year 2023’) contained in the\nCompany’s Annual Report on Form 10-K for the fiscal year 2024, and in our\npreviously issued unaudited condensed consolidated financial statements for\neach of the quarterly and year-to-date periods within fiscal year 2024 as well\nas the quarterly and year-to-date periods for the periods ended September 27,\n2025, June 28, 2025 and March 29, 2025, and concluded that such financial\nstatements should not be relied upon and required restatement (the\n‘Restatement’).”  Driven specified that the errors variously related to\n“the completeness and accuracy of recording leases”; “unreconciled\ndifferences for cash accounts primarily originating in fiscal years 2023 and\nearlier”; the incorrect presentation of “certain supply and other\nexpenses” as “company-operated store expenses”; as well as “the income\ntax provision, supply and other revenue, fixed assets, cloud computing, lease\ncash application, and balance sheet and income statement misclassifications,\nas well as inappropriately recognized revenue in our ATI business primarily\nrelated to fiscal year 2025.”  Driven also disclosed its “conclusion that\nour internal control over financial reporting and disclosure controls and\nprocedures were not effective as of December 27, 2025.” \n\nOn this news, Driven’s stock price fell $5.01 per share, or 30.16%, to close\nat $11.60 per share on February 25, 2026.\n\nPomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris,\nand Tel Aviv, is acknowledged as one of the premier firms in the areas of\ncorporate, securities, and antitrust class litigation. Founded by the late\nAbraham L. Pomerantz, known as the dean of the class action bar, Pomerantz\npioneered the field of securities class actions. Today, more than 85 years\nlater, Pomerantz continues in the tradition he established, fighting for the\nrights of the victims of securities fraud, breaches of fiduciary duty, and\ncorporate misconduct. The Firm has recovered numerous multimillion-dollar\ndamages awards on behalf of class members. See www.pomlaw.com. \n\nAttorney advertising.  Prior results do not guarantee similar\noutcomes.    \n\nCONTACT: \nDanielle Peyton \nPomerantz LLP \ndpeyton@pomlaw.com \n646-581-9980 ext. 7980 \n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX7dM2P9","title":"INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Driven Brands Holdings Inc. of Class Action Lawsuit and Upcoming Deadlines – DRVN","author":"Globe Newswire","ticker":"DRVN","created":"2026-04-28T21:14:32.084Z","tickers":["DRVN"],"exchange":"NASDAQ","article_body":"NEW YORK, April 28, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a\nclass action lawsuit has been filed against Driven Brands Holdings Inc.\n(“Driven” or the “Company”) (NASDAQ: DRVN).  Such investors are\nadvised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980,\n(or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are\nencouraged to include their mailing address, telephone number, and the number\nof shares purchased. \n\nThe class action concerns whether Driven and certain of its officers and/or\ndirectors have engaged in securities fraud or other unlawful business\npractices. \n\nYou have until May 11, 2026, to ask the Court to appoint you as Lead Plaintiff\nfor the class if you purchased or otherwise acquired Driven securities during\nthe Class Period. A copy of the Complaint can be obtained at\nwww.pomerantzlaw.com.          \n\n[Click here for information about joining the class action]\n(https://www.globenewswire.com/Tracker?data=ICUj0PhhSOoUXvzXZW3-Z__KmN5rzcWC8H-7ZOrmAoaJMhkLRaHuPlxtvh4V8bE6akHl-mZyVFCM10dYZtmx71us-JppfQ7KfHodiuqIfl4X6hXXOmiKkuTzr6mv9-WNlDY0jFmI9GTF91u3DPJs5QIyK9Vj6162HV-8xWmHYcdUiG1mKq7TMHpl0xE9jVry)  \n\nOn February 25, 2026, Driven filed a Notice of Non-Reliance with the U.S.\nSecurities and Exchange Commission, disclosing that “there were material\nerrors in our previously issued consolidated financial statements for the\nfiscal year ended December 28, 2024 (‘fiscal year 2024’) and the fiscal\nyear ended December 30, 2023 (‘fiscal year 2023’) contained in the\nCompany’s Annual Report on Form 10-K for the fiscal year 2024, and in our\npreviously issued unaudited condensed consolidated financial statements for\neach of the quarterly and year-to-date periods within fiscal year 2024 as well\nas the quarterly and year-to-date periods for the periods ended September 27,\n2025, June 28, 2025 and March 29, 2025, and concluded that such financial\nstatements should not be relied upon and required restatement (the\n‘Restatement’).”  Driven specified that the errors variously related to\n“the completeness and accuracy of recording leases”; “unreconciled\ndifferences for cash accounts primarily originating in fiscal years 2023 and\nearlier”; the incorrect presentation of “certain supply and other\nexpenses” as “company-operated store expenses”; as well as “the income\ntax provision, supply and other revenue, fixed assets, cloud computing, lease\ncash application, and balance sheet and income statement misclassifications,\nas well as inappropriately recognized revenue in our ATI business primarily\nrelated to fiscal year 2025.”  Driven also disclosed its “conclusion that\nour internal control over financial reporting and disclosure controls and\nprocedures were not effective as of December 27, 2025.” \n\nOn this news, Driven’s stock price fell $5.01 per share, or 30.16%, to close\nat $11.60 per share on February 25, 2026.\n\nPomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris,\nand Tel Aviv, is acknowledged as one of the premier firms in the areas of\ncorporate, securities, and antitrust class litigation. Founded by the late\nAbraham L. Pomerantz, known as the dean of the class action bar, Pomerantz\npioneered the field of securities class actions. Today, more than 85 years\nlater, Pomerantz continues in the tradition he established, fighting for the\nrights of the victims of securities fraud, breaches of fiduciary duty, and\ncorporate misconduct. The Firm has recovered numerous multimillion-dollar\ndamages awards on behalf of class members. See www.pomlaw.com. \n\nAttorney advertising.  Prior results do not guarantee similar\noutcomes.    \n\nCONTACT: \nDanielle Peyton \nPomerantz LLP \ndpeyton@pomlaw.com \n646-581-9980 ext. 7980 \n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-04-28T21:14:32.136310071Z","server_sent_at_ms":1777410872136},"received_at":"2026-04-28T21:14:32.187Z","source_url":"https://www.globenewswire.com/news-release/2026/04/28/3283273/1087/en/investor-alert-pomerantz-law-firm-reminds-investors-with-losses-on-their-investment-in-driven-brands-holdings-inc-of-class-action-lawsuit-and-upcoming-deadlines-drvn.html"},"analysis":{"id":"9204","press_release_id":"11873","analysis_json":{"industry":{"label":"Consumer Services","sector":"Consumer Discretionary"},"redFlags":["financial statements for fiscal 2023, 2024, and 2025 require restatement","internal control over financial reporting were not effective","stock price fell 30.16% on February 25, 2026"],"eventType":"legal_litigation","narrative":"Pomerantz LLP announced a class action lawsuit against Driven Brands (DRVN) alleging securities fraud related to material accounting errors.\n\nThe company disclosed that financial statements for fiscal years 2023 and 2024, as well as several 2025 quarters, should not be relied upon and require restatement due to issues with lease accounting, cash reconciliations, and expense recognition.\n\nFollowing the disclosure, DRVN shares fell 30.16% to close at $11.60 on February 25, 2026, with investors facing a May 11 deadline to seek lead plaintiff status.","sentiment":"bearish","agentHooks":{"shouldPost":true,"suggestedAngle":"Accounting irregularities force multi-year restatement and trigger a 30% stock crash."},"keyFigures":{"customDimensions":{"closingPrice":"$11.60","stockDropAmount":"$5.01","stockDropPercent":"30.16%","leadPlaintiffDeadline":"May 11, 2026"}},"quotedText":"Driven also disclosed its “conclusion that our internal control over financial reporting and disclosure controls and procedures were not effective as of December 27, 2025.”","namedEntities":{"people":[{"name":"Danielle Peyton"}],"products":[],"companies":[{"name":"Driven Brands Holdings Inc.","ticker":"DRVN"},{"name":"Pomerantz LLP","relationship":"plaintiff counsel"}],"dollarAmounts":[{"amount":"$5.01","context":"per share stock price decline"},{"amount":"$11.60","context":"closing price per share"}]},"materialImpact":{"score":4,"reasoning":"The disclosure of material accounting errors requiring a multi-year restatement and the subsequent filing of a class action lawsuit triggered a 30% single-day stock drop. While highly material, the strict criteria for a score of 5 (e.g., M&A, FDA events, CEO departure) are not met, resulting in a score of 4."},"tickerRelevance":{"others":[],"primary":"DRVN"},"globalImportance":35,"audienceRelevance":25,"eventTypeSecondary":[],"importanceComponents":{"stockMove":"30% drop","tickerTier":"Mid-cap","eventGravity":"High - Restatement/Fraud"}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"bearish","material_impact_score":4,"narrative":"Pomerantz LLP announced a class action lawsuit against Driven Brands (DRVN) alleging securities fraud related to material accounting errors.\n\nThe company disclosed that financial statements for fiscal years 2023 and 2024, as well as several 2025 quarters, should not be relied upon and require restatement due to issues with lease accounting, cash reconciliations, and expense recognition.\n\nFollowing the disclosure, DRVN shares fell 30.16% to close at $11.60 on February 25, 2026, with investors facing a May 11 deadline to seek lead plaintiff status.","key_figures":{"customDimensions":{"closingPrice":"$11.60","stockDropAmount":"$5.01","stockDropPercent":"30.16%","leadPlaintiffDeadline":"May 11, 2026"}},"named_entities":{"people":[{"name":"Danielle Peyton"}],"products":[],"companies":[{"name":"Driven Brands Holdings Inc.","ticker":"DRVN"},{"name":"Pomerantz LLP","relationship":"plaintiff counsel"}],"dollarAmounts":[{"amount":"$5.01","context":"per share stock price decline"},{"amount":"$11.60","context":"closing price per share"}]},"model_name":"glm-4.7","prompt_hash":"sha256:1fc968c3ac7f7ebb","schema_hash":"sha256:1f8af1196c7db48c","created_at":"2026-04-29T00:07:13.646Z","global_importance":35,"audience_relevance":25,"importance_components":{"stockMove":"30% drop","tickerTier":"Mid-cap","eventGravity":"High - Restatement/Fraud"}},"durationMs":229354,"modelName":"glm-4.7"}}