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Investigation announced for Long-Term Investors in shares of National Vision Holdings, Inc. (NASDAQ: EYE) over potential Wrongdoing

04-28-2023 04:50 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in National Vision Holdings, Inc. (NASDAQ: EYE) shares.

An investigation on behalf of current long term investors in National Vision Holdings, Inc. (NASDAQ: EYE) shares.

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of National Vision Holdings, Inc.

Investors who are current long term investors in National Vision Holdings, Inc. (NASDAQ: EYE) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NASDAQ: EYE stocks follows a lawsuit filed against National Vision Holdings, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: EYE stocks, concerns whether certain National Vision Holdings, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Northern District the plaintiff alleges that, the defendants failed to disclose 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, that 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, that 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, that as a result, National Vision's profitability metrics were expected to deteriorate below not only favorable 2020 results, but also pre-pandemic levels and that consequently, there was a substantial undisclosed risk that National Vision would experience staff and optometrist shortages and capacity constraints.

The plaintiff further alleges that defendants failed to disclose that National Vision had suffered a severe optometrist shortage in the first quarter of 2022, that the lack of sufficient optometrists to meet customer demand had created an acute exam capacity constraint, that 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 that thus, National Vision's 2022 financial outlook was materially false and misleading and lacked a reasonable factual basis.

Those who purchased shares of National Vision Holdings, Inc. (NASDAQ: EYE) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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