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Leading securities law firm Bleichmar Fonti & Auld LLP said it has filed a class action lawsuit against Driven Brands Holdings Inc. (NASDAQ: DRVN) and certain senior executives, alleging securities fraud following the company’s disclosure of widespread accounting errors and internal control failures. The filing comes after Driven Brands’ stock fell nearly 40%.
Driven Brands is an automotive aftermarket services company that owns, operates, and franchises vehicle maintenance, repair, collision, glass, and car wash brands. According to the complaint, the company made statements during the relevant period asserting that its financial reporting was accurate and that its internal controls were effective.
The lawsuit alleges those statements were materially false and misleading due to pervasive accounting errors, including lease accounting issues, unreconciled cash balances, improperly classified expenses, and improperly recognized revenue, spanning fiscal years 2023 through 2025.
On February 25, 2026, Driven Brands disclosed that it would restate its financial statements for fiscal years 2023 and 2024, as well as quarterly and year-to-date financials for 2025, after identifying numerous material accounting errors. The company also disclosed material weaknesses in its internal controls over financial reporting and said it delayed the filing of its 2025 Form 10-K.
Following the disclosure, the stock fell from $16.61 per share on February 24, 2026 to an opening price of $9.99 per share on February 25, 2026, a decline of nearly 40%.
The firm said investors have until May 8, 2026 to ask the court to be appointed as lead plaintiff. It also stated that representation is on a contingency fee basis, with no cost or obligation to investors.
For additional information, the firm directed investors to its case page: https://www.bfalaw.com/cases/driven-brands-class-action-lawsuit.
Bleichmar Fonti & Auld LLP said it is an international law firm representing plaintiffs in securities class actions and shareholder litigation, citing recognition from Chambers USA, The Legal 500, and ISS SCAS, among others. The firm also cited prior recoveries including more than $900 million from Tesla, Inc.’s Board of Directors and $420 million from Teva Pharmaceutical Industries Ltd.
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