San Diego, CA -- (SBWIRE) -- 02/08/2023 -- An investor, who purchased NASDAQ: EYE shares, filed a lawsuit against National Vision Holdings, Inc. over alleged violations of Federal Securities Laws.

Investors who purchased shares of National Vision Holdings, Inc. (NASDAQ: EYE) have certain options and for certain investors are short and strict deadlines running. Deadline: March 28, 2023. NASDAQ: EYE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Duluth, GA based National Vision Holdings, Inc., through its subsidiaries, operates as an optical retailer in the United States. On May 10, 2022, National Vision announced its financial and operational results for its first fiscal quarter of 2022. National Vision Holdings, Inc. stated that during the quarter, on a year-over-year basis, the Company's net revenues had decreased 1.2% to $527.7 million, its adjusted CSS had fallen 6.8%, net income had decreased 30.6% to $30.1 million, and its diluted EPS had decreased 28.2% to $0.34.

National Vision Holdings, Inc. slashed the Company's 2022 outlook, lowering adjusted CSS to a range of negative 7% to negative 4%, net revenue to a range of $2.01 billion to $2.07 billion, adjusted operating income to a range of $85 million to $105 million, and adjusted diluted EPS to a range of $0.65 to $0.80

The plaintiff claims that between May 13, 2021 and May 9, 2022, 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:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, 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, investigation, and/or settlements are not filed/reached and/or 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.