SAN FRANCISCO, CA – (March 11, 2026) – National plaintiffs law firm Lieff Cabraser Heimann & Bernstein, LLP encourages investors in Driven Brands Holdings, Inc. (“Driven Brands” or the “Company”) (NASDAQ: DRVN) who purchased or otherwise acquired the common stock of Driven Brands between May 9, 2023 and February 24, 2026, inclusive (the “Class Period”) to contact us immediately regarding the pending securities class action against Driven Brands. The deadline to apply to be lead plaintiff is May 8, 2026.
Class Period: May 9, 2023 – February 24, 2026
Lead Plaintiff Motion Deadline: May 8, 2026
Case information: https://lieffcabraser.com/securities/drvn2026/
Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358
Driven Brands, incorporated in Delaware and headquartered in Charlotte, North Carolina, is the largest automotive services company in North America.
The action alleges that, throughout the Class Period, Defendants misrepresented and failed to disclose that Driven Brands had identified at least ten categories of errors in its financial statements, including errors related to: (1) the recording of leases affecting the right of use assets and right of use liabilities recorded in the Company’s consolidated balance sheet; (2) opening and ending cash balances and operating cash flows, leading to overstatements of cash and revenue and understatement of selling, general, and administrative expenses in Driven Brands’ consolidated statements of operations; (3) presentation of supply and other expenses as company-operated store expenses; (4) income tax provision; (5) supply and other revenue; (6) fixed assets; (7) cloud computing; (8) lease cash applications; (9) balance sheet and income statement misclassifications; and (10) improperly recognized revenue in Driven Brands’ Automotive Training Institute business.
On February 25, 2026, before markets opened, Driven Brands revealed that the Audit Committee of its Board of Directors discovered material errors in the Company’s previously issued consolidated financial statements for fiscal 2023 and 2024, and the first three quarters of fiscal 2025, and that those statements, as well as the unaudited condensed consolidated statements for each of the quarterly and year-to-date periods from fiscal year 2024 through September 27, 2025 “should not be relied upon and require[] restatement.” As a result, the Company revealed that it would not be able to file its Form 10-K annual report for fiscal 2025 on time. Driven Brands listed ten different categories of errors it identified, admitted to “material weaknesses” in its internal control over financial reporting, and concluded that the Company’s “internal control over financial reporting and disclosure controls and procedures were not effective as of December 27, 2025.” On this news, the price of Driven Brands common stock fell $5.01 per share, or 30.16%, from its closing price of $16.61 per share on February 24, 2026, to close at $11.60 per share on February 25, 2026, on extremely heavy trading volume.
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Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.
Source/Contact
Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com
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