EYE Investors Have Opportunity to Lead National Vision Holdings, Inc. Securities Fraud Lawsuit
LOS ANGELES, March 1, 2023 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities fraud class action lawsuit against National Vision Holdings, Inc. ("National Vision" or the "Company") (NASDAQ: EYE).
Class Period: May 13, 2021 – May 9, 2022
Lead Plaintiff Deadline: March 28, 2023
If you wish to serve as lead plaintiff of the National Vision lawsuit, you can submit your contact information at www.glancylaw.com/cases/National-Vision-Holdings-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.
The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors: (1) that 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; (2) that National Vision had made a significant multi-million dollar investment in wage and compensation payments to its vision care professionals in order to prevent mass defections in the middle of 2021; (3) that the enhanced payouts were expected to negatively impact the Company's fourth quarter 2021 costs and profit margins to an extent materially greater than what had been disclosed to investors; (4) that, as a result, the Company's profitability metrics were expected to deteriorate below not only favorable 2020 results, but also pre-pandemic levels; (5) that the Company's recruitment and retention efforts had not been successful and there was a substantial undisclosed risk that National Vision would experience staff and optometrist shortages and capacity constraints; and (6) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Glancy Prongay & Murray LLP
