NEW YORK , May 7, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Vestis Corporation (“Vestis” or the “Company”) (NYSE: VSTS). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Vestis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 2, 2024, Vestis announced its financial results for the quarter ended March 29, 2024. Among other items, Vestis reported adjusted earnings per share of $0.13, significantly below consensus estimates of $0.23, and revenue of $705.4 million, also missing the expected $728.65 million. Additionally, Vestis revised its full-year 2024 revenue growth outlook to between negative 1% and 0%.
On this news, Vestis’s stock price fell $8.31 per share, or 44.99%, to close at $10.16 per share on May 2, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
