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Stock impact report

VESTIS ALERT: Bragar Eagel & Squire, P.C. is Investigating Vestis Corporation on Behalf of Vestis Stockholders and Encourages Investors to Contact the Firm

Vestis Corporation (VSTS) 
Company Research Source: GlobeNewswire
NEW YORK, May 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Vestis Corporation (“Vestis” or the “Company”) (NYSE: VSTS) on behalf of Vestis stockholders. Our investigation concerns whether Vestis has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. Vestis is a provider of uniforms and workplace supplies. On September 30, 2023, Aramark spun out Vestis common shares to its shareholders. Before the market opened on May 2, 2024, Vestis announced weak fiscal second quarter 2024 results and lowered its full year fiscal 2024 revenue growth guidance from 4% - 4.5% to (1)% - 0% and lowered its adjusted EBITDA margin guidance from 14.3% to 12% - 12.4%. On this news, Vestis’s stock price collapsed $8.31 per share to close at $10.16 on May 2, 2024, down 45.0% on very heavy volume. If Show less Read more
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