BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith reminds investors of the upcoming August 8, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Vestis Corporation (“Vestis” or the “Company”) (NYSE: VSTS) securities between May 2, 2024, to May 6, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN VESTIS CORPORATION (VSTS), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
What Happened?
On May 7, 2025, Vestis released its second quarter fiscal 2025 financial results and revised its prior growth and revenue guidance for 2025, providing guidance for the third quarter, falling significantly below market expectations. The Company explained that the poor results were partially due to “lost business in excess of new business” but primarily on “lower adds over stops, which is how [it] describe[s] volumes changes with [its] existing customers.”
On this news, Vestis’s stock price fell $3.27, or 37.5%, to close at $5.44 per share on May 7, 2025, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company was not equipped to achieve its growth guidance as the realization of these efforts instead resulted in a significant decline of revenue from existing customers; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Vestis securities during the Class Period, you may move the Court no later than August 8, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith
3070 Bristol Pike, Suite 112
Bensalem, Pennsylvania 19020
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com
Visit our website at: www.howardsmithlaw.com.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
