Shareholder Alert: Robbins LLP Notifies Investors of Class Action Lawsuit Against National Vision Holdings, Inc.

business Wire Robbins LLP


San Diego – (business wire)–class: Robbins LLP, on behalf of all shareholders who purchased common stock of National Vision Holdings, Inc. (NASDAQ: EYE) between May 13, 2021 and May 9, 2022, is pleased to announce that the shareholders We inform investors that we have filed a class action lawsuit for violation of trade laws. National Vision is an optician that offers vision tests, glasses, and contact lenses.

What now: Shareholders in a similar situation may be eligible to join a class action lawsuit against National Vision. Shareholders wishing to act as lead plaintiff in the class action must file their paperwork by March 28, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing a litigation. You do not have to be in a case to qualify for recovery. Click here for more information.

All surrogates are success fee based. Shareholders do not have to pay any fees or expenses.

This case contains: National Vision Holdings, Inc. (EYE) misrepresented its financial and operational outlook

During the course of the class action, the defendants emphasized favorable financial and operating trends and repeatedly raised the company’s guidance, according to the complaint. Defendants further argue that National Vision has weathered the pandemic adeptly, avoiding much of the labor disruption that has affected other retailers, and that the company has outperformed the industry in terms of recruitment and retention. and claimed to be implementing the usual pay raises.

Unknown to investors, these guarantees were materially false and misleading. National Vision was struggling to secure and recruit enough critical medical staff to keep up with burgeoning customer demand. In mid-2021, National Vision made a significant wage investment in both its employees and optometrists, which could significantly hurt the company’s bottom line. However, the company has hidden the scope of its investment, structuring it so that the increased payout in the fourth quarter of 2021 will have a significant impact on the company’s bottom line. National Vision’s efforts ultimately failed to adequately address the company’s retention and hiring crisis, leading to a significant optometrist shortage by the first quarter of 2022, hurting the company’s financial and operating results. It could have a material adverse effect on the prospects. Due to the company’s failure to disclose these adverse facts, the company’s stock traded at an artificially inflated price.

On May 10, 2022, National Vision announced highly disappointing financial and operational results for the first quarter of 2022. The release said the company’s net revenue fell 1.2% to $527.7 on a year-over-year basis during the quarter. Adjusted CSS decreased 6.8%, net income decreased 30.6% to $30.1 million and diluted EPS decreased 28.2% to $0.34. The release also lowered our 2022 outlook, adjusted CSS to a range of -7% to -4% and net revenues to a range of $2.01 billion to $2.07 billion, adjusted Lowered the subsequent operating income to the range of $85 million to $105 million. Adjusted diluted EPS to range from $0.65 to $0.80. Notably, the revised forecasts showed the company was actually worse in terms of profits and earnings than it was before the pandemic. From $33.57 per share on May 9, to $24.93 per share on May 10, 2022, down almost 26%.

Please contact us for more information.

Aaron Dumas

(800) 350-6003

Shareholder information form

About Robbins LLP: A recognized leader in shareholder rights litigation, Robbins LLP attorneys and staff have been helping shareholders recover losses, improve corporate governance structures, and hold company management accountable for wrongdoing since 2002. I have been dedicated to it. Sign up for Stock Watch today to receive free alerts when Vision Holdings, Inc. settles or corporate executives engage in misconduct.

Advertisement for lawyers. Past results are no guarantee of similar results.


Source link

What do you think?

Leave a Reply

GIPHY App Key not set. Please check settings

    128493648 20669049

    Celtic 3-0 Livingston: Taylor, Maeda & Kyogo score in first half

    Matthew Cumber

    CSS tackling national issues