The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of National Vision Holdings, Inc. (NASDAQ: EYE) who purchased shares between May 13, 2021 and May 9, 2022. The action, which was filed in the United States District Court for the Northern District of Georgia, alleges that the Company violated federal securities laws.
In particular, the National Vision lawsuit alleges that (a) 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; (b) 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; (c) 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; (d) as a result of (a)-(c) above, the Company’s profitability metrics were expected to deteriorate below not only favorable 2020 results, but also pre-pandemic levels; e) 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.
Shareholders have until March 28, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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