Overview

A class action lawsuit has been filed against Driven Brands Holdings Inc. (“Driven Brands” or the “Company”) (NASDAQ : DRVN) and certain of the Company’s current and former senior executive officers (collectively, “Defendants”), alleging violations of the federal securities laws. The Driven Brands lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Driven Brands common stock between May 3, 2023, and February 24, 2026, inclusive (the “Class Period”). Investors have until May 8, 2026, to seek appointment as lead plaintiff of the Driven Brands class action lawsuit.

Driven Brands is an automotive services company that offers maintenance, car wash, collision repair, and glass services through brands including Take 5 Oil Change, Meineke, Maaco, and Auto Glass Now.

The complaint alleges that throughout the Class Period Defendants made false and misleading statements to investors, issuing financial statements that reported inflated revenue and cash balances, understated expenses, and otherwise misstated financial results due to pervasive accounting errors. 

Indeed, as Defendants would later admit, there were several categories of “material errors” in the Company’s financial statements for 2023, 2024, and 2025.  These errors included, among other things: (1) overstatements of cash and revenue and understatement of expenses for fiscal years 2023 and 2024; (2) errors impacting certain of the Company’s liabilities; (3) misclassification of expenses in fiscal years 2023 and 2024; (4) other errors relating to fiscal years 2023 or 2024, including income statement and balance sheet misclassifications; and (5) inappropriately recognized revenue primarily related to fiscal year 2025.

The truth was revealed on February 25, 2026, when Driven Brands disclosed it had identified several different categories of “material errors” in the Company’s consolidated financial statements for fiscal years 2023 and 2024, as well as in quarterly periods in 2025.  The same day, Driven Brands announced that the Company would delay the filing of its Annual Report on Form 10-K for the fiscal year 2025 as a result of the need to restate its financials for fiscal years 2023, 2024, and the first three quarters of 2025.  Additionally, Defendants admitted the Company had “material weaknesses” in its internal controls over financial report and the Company’s independent auditor similarly stated that Driven Brands’ “financial statements and internal control over financial reporting should not be relied upon.”

On this news, Driven Brands’ stock price fell 30%, from $16.61 per share on February 24, 2026, to close at $11.60 per share on February 25, 2026.

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If you purchased or otherwise acquired Driven Brands common stock between May 3, 2023 and February 24, 2026, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Driven Brands class action lawsuit is May 8, 2026.