Driven Brands Reaches $25 Million Deal in Investor Lawsuit (1)

Driven Brands Holdings Inc. agreed to settle investor allegations the automotive-services company overhyped the integration of its glass repair acquisitions and performance of its car wash businesses for $25 million.

The settlement class aims to cover those who got Driven stock from Oct. 27, 2021, through Aug. 1, 2023, said the public pension funds leading the case, which are seeking preliminary approval of the deal. If approved in the US District Court for the Western District of North Carolina, the agreement would end two years of litigation between shareholders, Driven, and two former executives, accusing the company of overstating its ...