DRIVEN BRANDS CLASS ACTION LAWSUIT: THE UlTIMATE SHAREHOLDER GUIDE TO THE LEAD PLAINTIFF PROCESS12/29/2023
If you suffered losses Driven Brands stock, contact Driven Branks stock loss lawyer Timothy L. Miles about a Driven Brands class action lawsuit
Summary of the DRIVEN BRANDS CLASS ACTION LAWSUIT Contact us about a free case evaluation about a Driven Brands Class action lawsuit
The Driven Brands class action lawsuit seeks to represent purchasers of Driven Brands Holdings Inc. (NASDAQ: DRVN) common stock between October 27, 2021 and August 1, 2023, inclusive (the “Class Period”). Captioned Genesee County Employees’ Retirement System v. Driven Brands Holdings Inc., No. 23-cv-00895 (W.D.N.C.), the Driven Brands class action lawsuit charges Driven Brands and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Driven Brands stock and wish to serve as lead plaintiff in the Driven Brands class action lawsuit, or if you just have questions in general about your rights as a shareholder, please contact Driven Brands Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Driven Brands class action lawsuit must be filed with the court no later than January 16, 2024. In this ultimate guide, we will discuss in detail everything that a Driven Brands shareholder needs to know about the lead plaintiff process in the Driven Brands class action lawsuit so that they may make an informed decision about their options. WHAT IS A SECURTIES FRAUD CLASS ACTION? Contact a Driven Brands stock loss lawyer about a Driven Brands class action lawsuit
A securities fraud class action refers to a legal action taken by a group of investors who have suffered financial losses as a result of fraudulent activities committed by a company or its executives. This type of lawsuit is typically filed when a company misrepresents or withholds important information from investors, leading to a decline in the value of their investments. The purpose of a securities fraud class action is to seek compensation for the affected investors and hold the company accountable for its fraudulent practices. Securities fraud class actions are governed by the Private Securities Litigation Reform Act (PSLRA).
One notable securities fraud class action lawsuit is the Driven Brands class action lawsuit. In this case, investors who purchased Driven Brands' securities alleged that the company made false and misleading statements and misled investors, and when the truth was ultimately disclosed, they suffered losses from purchasing shares that had been artificially inflated by the false and misleading information. Securities fraud class actions are typically initiated by a lead plaintiff or a group of lead plaintiffs who represent the interests of all the affected investors. The lead plaintiff is often an institutional investor or a large shareholder who has suffered substantial losses and possesses the resources and expertise to effectively pursue the lawsuit on behalf of the class. The lead plaintiff's role is crucial in coordinating with legal counsel, gathering evidence, and making strategic decisions throughout the litigation process. To proceed with a securities fraud class action, the lead plaintiff must demonstrate that there is a common issue of law or fact among the members of the class and that a class action is the most efficient and appropriate method for resolving their claims. If these requirements are met, the court will certify the lawsuit as a class action, allowing all eligible investors to participate in the litigation and share in any potential recovery. Once certified, the securities fraud class action typically goes through several stages, including discovery, where both parties exchange relevant documents and information, and motion practice, where each side presents legal arguments to the court. If the case does not settle during these stages, it may proceed to trial, where a jury or judge will determine liability and damages. In securities fraud class actions, the defendants are usually the company accused of fraud and its executives who were involved in the fraudulent activities. The lead plaintiff seeks damages on behalf of all class members, which may include compensation for their financial losses, interest, attorneys' fees, and other costs incurred throughout the litigation process. In conclusion, a securities fraud class action is a legal mechanism used by investors to seek compensation for financial losses resulting from fraudulent activities committed by a company. The Driven Brands class action lawsuit serves as an example of how investors can hold companies accountable for their alleged misrepresentations and omissions. These lawsuits play an essential role in protecting investor rights and promoting transparency in the financial markets. WHAT IS THE PSLRA? Contact us about a Driven Brands class action lawsuit if you suffered losses in Driven Brands stock
The Driven Brands class action lawsuit is governed by the PSLRA. The PSLRA is a landmark legislation enacted in 1995 and aims to protect investors from baseless lawsuits while still allowing legitimate claims such as the Driven Brands class action lawsuit to proceed. This act has had a significant impact on the securities litigation landscape, shaping the way class actions are brought and resolved.
One of the key provisions of the PSLRA is the requirement for plaintiffs to provide specific and particularized facts when alleging a misrepresentation or omission in a securities fraud case. Plaintiffs in the Driven Brands class action lawsuit must state with particularity the facts giving rise to a strong inference that the defendant acted with fraudulent intent. Another important aspect of the PSLRA is the provision for a stay of discovery pending the resolution of any motions to dismiss in the Driven Brands class action lawsuit. This means that defendants have the opportunity to challenge the sufficiency of the complaint filed in the Driven Brands class action lawsuit before engaging in discovery. The PSLRA also requires courts to appoint lead plaintiffs and lead counsel in securities class actions such as the Driven Brands class action lawsuit. This ensures that investors with the largest financial stake in the litigation are represented and have control over important decisions, such as settlement negotiations. The lead plaintiff must meet certain criteria, including having made a timely request to be appointed as lead plaintiff and having the largest financial interest in the relief sought by the class. WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE DRIVEN BRANDS CLASS ACTION LAWSUIT?
The lead plaintiff deadline in the Driven Brands class action lawsuit is fast approaching, and investors who wish to participate in the case must act promptly. A securities class action lawsuit is a legal proceeding in which a group of investors who have suffered financial losses due to alleged fraudulent or misleading activities by a company join forces to seek compensation. In this case Driven Brands and certain of its executives are accused of making false and misleading statements about its business prospects as well as filing false and misleading financial statements. The lead plaintiff deadline is the date by which an investor must file a motion with the court to be appointed as the lead plaintiff in the class action lawsuit.
When a securities class action is filed such as the Driven Brands class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Driven Brands class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published. WHAT IS THE APPOINTMENT OF LEAD PLAINTIFFS UNDER THE PSLRA? Contact us today about a Driven Brands class action lawsuit
Under the PSLRA, the appointment of lead plaintiffs in securities class action lawsuits is a critical step in the litigation process. One of the key provisions of the PSLRA is the requirement for the court to appoint a lead plaintiff to represent the interests of the class members in the Driven Brands class action lawsuit. This appointment is made within 90 days of the filing of the Driven Brands class action lawsuit, and the lead plaintiff is responsible for overseeing the litigation on behalf of all other class members.
The appointment of lead plaintiffs serves several important purposes. First and foremost, it ensures that the interests of the class members in the Driven Brands class action lawsuit are adequately represented in the litigation. By appointing a lead plaintiff who has a financial stake in the outcome of the Driven Brands class action lawsuit, the court can be confident that the litigation will be pursued diligently and in a manner that maximizes recovery for all class members. Additionally, having a lead plaintiff who is actively involved in the Driven Brands class action lawsuit allows for efficient coordination and communication between class members and their legal counsel. To be eligible for appointment as a lead plaintiff in the Driven Brands class action lawsuit, an individual or entity must meet certain criteria as outlined in the PSLRA. These criteria include having the largest financial interest in the relief sought by the class and being able to adequately represent the class members' interests. The PSLRA also requires potential lead plaintiffs to submit a certification stating that they are willing to serve as lead plaintiffs and that they will not accept any payment or settlement that is inconsistent with the interests of the class. In conclusion, the appointment of lead plaintiffs under the PSLRA is a crucial step in securities class action lawsuits. It ensures that the interests of class members are adequately represented and allows for efficient coordination and communication between class members and their legal counsel. By setting forth specific criteria for eligibility, the PSLRA aims to select lead plaintiffs who have a financial stake in the outcome of the case and are committed to pursuing maximum recovery for all class members. WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE DRIVEN BRANDS CLASS ACTION LAWSUIT?
Serving as a Lead Plaintiff in the Driven Brands lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Driven Brands if you suffered losses in Driven Brands stock. WHAT RESPONSIBILITIES WILL THE LEAD PLAINTIFF HAVE IN THE DRIVEN BRANDS LAWSUIT?
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Driven Brands lawsuit. Some of the responsibilities of the Lead Plaintiff in the Driven Brands lawsuit include:
CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE DRIVEN BRANDS LAWSUIT IF THEY SUFFERED LOSSES IN DRIVEN BRANDS STOCK?
Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Driven Brands, they may move the Court to be appointed lead plaintiff in the Driven Brands lawsuit.
CAN I BE APPOINTED LEAD PLAINTIFF IN THE DRIVEN BRANDS CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?
No. Even if you suffered losses in Driven Brands stock, if you purchased securities outside of the Class period, you will not be able to participate in the Driven Brands class action lawsuit.
WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE DRIVEN BRANDS CLASS ACTION LAWSUIT SETTLES?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Driven Brands class action lawsuit. Under the PSLRA, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Driven Brands class action lawsuit on behalf of investors who suffered losses in Driven Brands stock.
CAN I BE LEAD PLAINTIFF IN THE DRIVEN BRANDS CLASS ACTION LAWSUIT IF I AM LEAD PLAINTIFF IN ANOTHER CASE?
Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Driven Brands stock, you may move to be appointed lead plaintiff in the Driven Brands class action lawsuit.
CAN THE COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE DRIVEN BRANDS LAWSUIT?
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the Driven Brands lawsuit.
CAN I SELL MY STOCK AND STILL BE A MEMBER OF THE CLASS IN THE DRIVEN BRANDS CLASS ACTION LAWSUIT?
Yes. There is no requirement for you to retain ownership of the stock after the class period has expired to participate in the Driven Brands class action lawsuit.
HOW CAN A DRIVEN BRANDS STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN DRIVEN BRANDS STOCK?
A Driven Brands stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as in the Driven Brands class action lawsuit, Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions. One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021). This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE DRIVEN BRANDS CLASS ACTION LAWSUIT?
If you purchased shares during the class period and suffered losses in Driven Brands stock, then you are most likely a member of the class in the Driven Brands class action lawsuit and may participate in the Driven Brands class action lawsuit since you suffered losses in Driven Brands stock.
WHAT IF I MISS THE LEAD PLAINTIFF DEADLINE IN DRIVEN BRANDS CLASS ACTION LAWSUIT?
If you purchased shares during the class period and suffered losses in suffered losses in Driven Brands stock, then you will automatically be a class member and entitled to share in any potential settlement or recovery. Your ability to be a class member and recover your losses is not dependent on you serving as a lead plaintiff. The sixty-day deadline applies only to those shareholders seeking to be a lead plaintiff in the Driven Brands class action lawsuit.
IF THERE IS A SETTLEMENT IN THE DRIVEN BRANDS CLASS ACTION LAWSUIT, AND I DO NOT THINK IT IS FAIR, WHAT ARE MY OPTIONS AS A CLASS MEMBER?
If you receive a notice that the Driven Brands class action lawsuit has been settled and you do not believe the settlement is fair but do not want to opt-out and file your own lawsuit, you may object to the settlement. You may object to any part of the settlement and the Court will consider all timely filed objections in the class action against Driven Brands. The notice will contain the date when any objections must be filed and include instructions on where to send your objection and include a date for the final hearing in the Driven Brands class action lawsuit if you would like to appear and be heard by the court in the class action against Driven Brands.
HOW MUCH DOES IT COST TO HIRE A DRIVEN BRANDS STOCK LOSS LAWYER IF I SUFFERED LOSSES IN DRIVEN BRANDS STOCK?
Nothing. If you suffered losses in Driven Brands and are a member of the class, it does not cost anything to hire a Driven Brands stock loss lawyer. Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and costs are awarded by the court as a percentage of the total recovery for the class. So, contact a Driven Brands stock loss lawyer today if you suffered losses in Driven Brands stock about a Driven Brands class action lawsuit.
CONTACT A DRIVEN BRANDS STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN DRIVEN BRANDS STOCK ABOUT A DRIVEN BRANDS CLASS ACTION LAWSUIT
If you suffered losses in Driven Brands stock, contact Driven Brands stock loss lawyer Timothy L. Miles today for a free case evaluation about a Driven Brands class action lawsuit. Call today and see what a Driven Brands stock loss lawyer could do for you if you suffered losses in Driven Brands stock.
The call is free and so is the fee unless we will or settle your case. Driven Brands stock loss lawyer Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer ofthe South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
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