PHILADELPHIA, PA / ACCESS Newswire / January 28, 2026 / Kaskela Law LLC announces that it is investigating potential breach of fiduciary duty claims concerning Vestis Corp. (NYSE:VSTS) ("Vestis" or the "Company") behalf of the company’s long-term shareholders.
Click here to submit your information to the firm and to receive additional information about your legal rights and options: https://kaskelalaw.com/case/vestis-corp/
Vestis is a provider of uniforms and workplace supplies in the United States and Canada.â?¯ The Company was created as the result of its September 30, 2023 spinoff from food services and facilities management provider Aramark.â?¯
Recently a federal securities fraud complaint was filed against Vestis on behalf of certain investors who purchased shares of the Company’s stock between October 2, 2023 and May 1, 2024 (the "Class Period").â?¯
According to the complaint, during the Class Period, Vestis and certain of the company’s senior executive officers made a series of materially false and misleading statements and failed to disclose that: (i)â?¯Aramark had historically underinvested in the business that became Vestis; (ii)â?¯Vestis operated with outdated facilities and an underperforming sales force; (iii)â?¯Vestis’s outdated facilities and underperforming sales force led to "service gaps" that had impeded the Company’s levers of growth and had resulted in customer attrition; and (iv)â?¯as a result of the above, defendants’ statements about Vestis’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
As further detailed in the complaint, the truth was revealed on May 2, 2024, when Vestis issued a press release announcing disappointing financial and operational results for the second quarter of fiscal year 2024, and revised its revenue outlook for fiscal year 2024 downward to a range of negative 1% to 0%. During the corresponding earnings call with analysts that day, Chief Executive Officer ("CEO") Kimberly Scott revealed the "challenges" facing the Company related "to sales productivity and deliberate moderated pricing actions," the latter of which CEO Scott explained were necessary to "improve[] retention" and because "service gaps" had "driven price sensitivity."â?¯ Following this news, shares of Vestis’ common stock fell $8.31 per share, or nearly 45% in value, to close at $10.16 per share on May 2, 2024, on unusually heavy trading volume.
In light of the foregoing, Kaskela Law is investigating whether Vestis’ officers and directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Current Vestis shareholders who have continuously held VSTS shares since at least January 1, 2024 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) to receive additional information about this investigation and their legal rights and options at (484) 229 – 0750, via email at abell@kaskelalaw.com , or by clicking on the following link (or if necessary, by copying and pasting the link into your browser):
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis, and has assisted investors in recovering over $500 million. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com .
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
This notice may constitute attorney advertising in certain jurisdictions.
SOURCE: Kaskela Law LLC
View the original press release on ACCESS Newswire
COMTEX_472506170/2457/2026-01-28T07:59:50