Cases & Investigations
Vestis Corporation
Type: Investigations
Defendant(s): Vestis Corporation
Stock Symbol: NYSE: VSTS
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.
Investors who lost over $50,000 trading in Vestis common stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or asavett@wolfpopper.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper’s reputation and expertise have been repeatedly recognized by courts that have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm’s website at www.wolfpopper.com.
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