Multiple Hedge Funds Adjust Vestis Corporation Holdings Amid Ongoing Securities Lawsuit

Several institutional investors, including Cwm LLC, Millennium Management LLC, and New York State Common Retirement Fund, have recently adjusted their holdings in Vestis Corporation, with many increasing their positions significantly. Vestis's stock is predominantly held by institutional investors, accounting for approximately 97.40% ownership. Meanwhile, Vestis Corporation is facing a securities fraud class action lawsuit related to its financial disclosures and growth guidance, stemming from a significant drop in revenue and stock price after the company reported disappointing second quarter fiscal 2025 results. Multiple law firms, including Rosen Law Firm, Glancy Prongay & Murray LLP, and Bernstein Liebhard LLP, are actively seeking investors who purchased Vestis securities during the class period from May 2, 2024, to May 6, 2025, to join the lawsuit or serve as lead plaintiffs. The deadline for filing lead plaintiff motions is August 8, 2025. The lawsuits allege that Vestis and its officers made materially false and misleading statements about the company's business and prospects, contributing to investor losses when the true financial condition was revealed.