Law Offices of Howard G. Smith Encourages Vestis Corporation (VSTS) Investors to Inquire About Securities Fraud Class Action
BENSALEM, Pa.--(BUSINESS WIRE)--Jun 13, 2025--
Law Offices of Howard G. Smith announces that a class action lawsuit has been 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'). Vestis investors have until August 8, 2025 to file a lead plaintiff motion.
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 [email protected], 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.
Contact Us to Participate or Learn More:
If you purchased Vestis securities, have information or would like to learn more about these claims, or 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: [email protected]
Visit our website at: www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250613385689/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2025.
PUB: 06/13/2025 02:56 PM/DISC: 06/13/2025 02:55 PM
http://www.businesswire.com/news/home/20250613385689/en
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
34 minutes ago
- Yahoo
Bill sets rules on sales tax hike
GUILFORD COUNTY — State Sen. Phil Berger, R-Rockingham and Senate president pro tem, is pushing a bill through the N.C. General Assembly to set guidelines on how revenue from a quarter-cent sales tax increase could be spent if the referendum is approved by Guilford County voters in the November 2026 general election. Berger, whose district includes parts of Guilford County, said Thursday that the Senate approved an amended version of House Bill 305 that addresses the referendum issue. During its meeting June 18, the Guilford County Board of Commissioners unanimously voted to yet again place the measure before county voters. Voters have rejected the quarter-cent sales tax increase six times in the past 20 years, most recently in the November 2024 general election. While the commissioners have said they want to use the additional revenue to support education, existing law doesn't restrict the use of funds collected for education or any particular purpose, Berger said in a statement. House Bill 305 would specify funds collected through a quarter-cent sales tax increase can only be used for classroom teacher salary supplements, fire protection equipment and services, Guilford Technical Community College and a small amount for municipalities, Berger said. A quarter-cent sales tax increase is expected to generate $25 million annually. 'Voters going to the polls in November 2026 need to know exactly what they're being asked to vote on,' Berger said. 'House Bill 305 now provides them with information so they can make an educated decision. I believe putting strict guardrails on the revenue collected gives taxpayers relevant information and guarantees the funds will be used as promised.' Democratic Guilford County Board of Commissioners Chairman Skip Alston said that he welcomes Berger's initiative. Having the quarter-cent sales increase revenue specified for certain uses will reassure voters and make them more likely to cast a ballot for the referendum, Alston told The High Point Enterprise. House Bill 305 now goes back to the House for a concurrence approval vote. Since the legislation is a local bill, it isn't subject to veto oversight by Democratic Gov. Josh Stein.
Yahoo
35 minutes ago
- Yahoo
Novem Group Full Year 2025 Earnings: Revenues In Line With Expectations
Revenue: €541.5m (down 15% from FY 2024). Net income: €11.1m (down 68% from FY 2024). Profit margin: 2.0% (down from 5.5% in FY 2024). The decrease in margin was driven by lower revenue. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. All figures shown in the chart above are for the trailing 12 month (TTM) period Revenue was in line with analyst estimates. The primary driver behind last 12 months revenue was the Americas segment contributing a total revenue of €280.8m (52% of total revenue). The largest operating expense was General & Administrative costs, amounting to €148.9m (57% of total expenses). Explore how NVM's revenue and expenses shape its earnings. Looking ahead, revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Auto Components industry in Germany. Performance of the German Auto Components industry. The company's shares are down 1.4% from a week ago. Before you take the next step you should know about the 2 warning signs for Novem Group (1 is a bit unpleasant!) that we have uncovered. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
36 minutes ago
- Yahoo
Delta Air Lines Makes 'Exciting' Announcement for Travelers
Delta Air Lines has already established itself as one of the best in its industry, but that doesn't mean management is satisfied. Earlier this week, Delta was awarded Best Airline Staff Service in North America by Skytrax. Despite the airline's strong reputation, the higher-ups are considering a plethora of moves that could take their product to the next level. Delta senior vice president of network planning Paul Baldoni spoke to The Points Guy about potential changes coming to the airline. For starters, Baldoni revealed that Delta's fleet of Airbus A330-200 and Airbus A330-300 jets will be retrofitted with Delta One Suites. This change will take place over the next few years. Additionally, Delta confirmed that it'll have a subfleet of Airbus A321neos. "We are looking forward to the A321neos that will come with flat-bed seats," Baldoni said. "We're going to put it places where we have existing domestic Delta One service today." Baldoni wasn't done revealing changes for Delta Air Lines. Last year, Delta made the decision to upgrade all flights between New York and Los Angeles with premium economy seats. Baldoni said that decision went over so well with the public that Delta will do the same for flights between New York and San Francisco. San Francisco isn't the only city expected to benefit from Delta's new plans. Though nothing is official yet, Austin could become the next hub for the Georgia-based airline. "We've had great success in Austin. We like the demographic trends we see in Austin. So, that will continue to be the primary focus," Baldoni said. "We're getting up to now close to 80 departures a day [along with our partners]. When we get to close to around 120 daily departures, you start building some of that connectivity that exists in what you would call a hub, whether we call Austin a hub or not." Delta Air Lines Makes 'Exciting' Announcement for Travelers first appeared on Men's Journal on Jun 26, 2025
