New York, New York--(Newsfile Corp. - March 28, 2023) - Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against National Vision Holdings, Inc. ("National Vision" or the "Company") (NASDAQ: EYE) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired National Vision securities between May 13, 2021 and May 9, 2022, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/eye.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that throughout the Class Period the Defendants failed to disclose that: (i) National Vision was experiencing extraordinary wage and labor pressures as a result of intense competition and disruptions in the labor market due to the COVID-19 pandemic; (ii) National Vision had made a significant multi-million dollar investment in wage and compensation payments to its vision care professionals to prevent mass defections in the middle of 2021; (iii) the enhanced payouts were expected to negatively impact National Vision's fourth quarter 2021 costs and profit margins to an extent materially greater than what had been disclosed to investors; (iv) as a result, National Vision's profitability metrics were expected to deteriorate below not only favorable 2020 results, but also pre-pandemic levels; (v) consequently, there was a substantial undisclosed risk that National Vision would experience staff and optometrist shortages and capacity constraints; (vi) as a result, National Vision was suffering from a decline in net revenue and adjusted comparable store sales during the first quarter of 2022; and (iv) thus, the Company's 2022 financial outlook was materially false and misleading and lacked a reasonable factual basis.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: www.bgandg.com/eye or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in National Vision, you have until March 28, 2023, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153059
