A securities class action has been filed in the USDC – S.D.N.Y. against Vestis Corporation (VSTS) (“Vestis” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Vestis common stock between May 2, 2024, and May 6, 2025, both dates inclusive (the “Class Period”).
Vestis is a North American company that provides uniform rentals and workplace supplies across the United States and Canada. Vestis manufactures and distributes uniforms, mats, towels, linens, restroom supplies, first-aid supplies, safety products, and other workplace supplies.
The complaint alleges that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Vestis’ ability to grow its business; notably that Vestis would be unable to execute on planned strategic initiatives to drive purported improvements to the customer experience and its onboarding efforts in order to drive new customer growth, increased customer retention, and increased revenue from existing customers.
As a result, from a closing market price of $8.71 per share on May 6, 2025, Vestis’ stock price fell to $5.44 per share on May 7, 2025, a decline of about 37.54% in the span of just a single day.
If you purchased Vestis common stock during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.