According to the Complaint, Vestis Corporation provides uniform rentals and workplace supplies across the United States and Canada. This lawsuit was filed against Vestis and two of its Officers.

During the Class Period, Defendants provided investors with material information concerning Vestis’ expected growth for the fiscal year 2025. Defendants’ statements included, among other things, confidence in their forecasting ability and, in turn, in their ability to execute strategic initiatives to improve customer experience and retention while enacting annual price increases.

The Complaint alleges that Defendants provided these 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. The Complaint further alleges that such statements absent these material facts caused Plaintiff and other shareholders to purchase Vestis’ securities at artificially inflated prices.