Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against UnitedHealth, and Vestis and Encourages Investors to Contact the Firm
Class Period:
Lead Plaintiff Deadline:
On
The complaint alleges that, throughout the Class Period,
The complaint further alleges that the truth emerged on
For more information on the
Class Period:
Lead Plaintiff Deadline:
Based in
Leading up to Class Period before the spinoff, soon-to-be executives of Vestis claimed that “investments are in place” to deliver “5% to 7% topline growth” on compound annual growth rate (CAGR). They also assured investors that the Company’s sales force had “reached their stride” and were “now hitting productivity levels that we desire from them.” As the Class Period progressed, Defendants highlighted the “really, really great feedback” that Vestis had received from its customer service initiatives and maintained that the Company’s growth would continue to accelerate based on, among other things, Vestis “providing service excellence to our customers.”
The Class Action alleges that, during the Class Period, the Defendants made materially false and misleading statements and failed to disclose that: (1) Aramark had historically underinvested in the business that became Vestis; (2) Vestis operated with outdated facilities and an underperforming sales force; (3) Vestis’s outdated facilities and underperforming sales force led to “service gaps” that had impeded the Company’s levers of growth and had resulted in customer attrition; and (4) as a result of the above, Defendants’ statements about Vestis’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The class action further alleges that the truth was revealed before markets opened on
On this news, the price of Vestis stock plummeted 45%, from a closing price of
For more information on the Vestis class action go to: https://bespc.com/cases/VSTS
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Source: Bragar Eagel & Squire
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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against GoodRx, Exscientia, Malibu Boats, and Globe Life and Encourages Investors to Contact the Firm
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