An investigation on behalf of current long term investors in National Vision Holdings, Inc. (NASDAQ:EYE) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 05/04/2023 -- 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 firstname.lastname@example.org 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.
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.
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