SAN DIEGO–(BUSINESS WIRE)–$DRVN #Brands—Robbins LLP informs stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Driven Brands Holdings Inc. (NASDAQ: DRVN) common stock between May 9, 2023 and February 24, 2026. Driven Brands is the largest automotive services company in North America, operating in approximately 4,900 locations across more than 15 countries. The Company provides maintenance, car wash, collision, and glass services, and operates as a holding company for major brands like Take 5 Oil Change, Meineke Car Care Centers, Maaco, and Auto Glass Now.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Driven Brands Holdings Inc. (DRVN) Made Material Errors in its Previously Issued Consolidated Financial Statements
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.
Plaintiff alleges that on February 25, 2026, the Company filed a Current Report on Form 8-K announcing that “[o]n February 23, 2026, the Audit Committee of the Board of Directors, after consultation with the Company’s management, concluded there were material errors in our previously issued consolidated financial statements” concerning the Company’s financial reporting for fiscal years 2023 and 2024. As such, the Company’s “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” through September 27, 2025 “should not be relied upon and required restatement.” Accordingly, the Company would have to restate approximately two years-worth of its financial reporting.
On this news, Driven Brands’ stock price fell nearly 40%, from a close of $16.61 on February 24, 2026, to open at $9.99 on February 25, 2026
What Now: You may be eligible to participate in the class action against Driven Brands Holdings Inc. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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Contacts
Aaron Dumas, Jr.
Robbins LLP
5060 Shoreham Pl., Ste. 300
San Diego, CA 92122
[email protected]
(800) 350-6003
www.robbinsllp.com
