NEW YORK, Feb. 26, 2024 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP:
- Did you own stock in Xponential Fitness, Inc. (NYSE: XPOF)?
- Did you purchase stocks between July 26, 2021 and December 7, 2023?
- Did you lose money investing in Xponential Fitness, Inc.?
- Want to discuss your rights?
Bernstein Liebhardt LLP, a nationally acclaimed investor rights law firm, has filed a securities class action lawsuit filed on behalf of investors who purchased or acquired Xponential Fitness’ Class A common stock. We remind investors of the lead plaintiff filing deadline. Inc. (“Xponential” or the “Company”) (NYSE: XPOF). July 26, 2021 and December 7, 2023(“Class Period”). The lawsuit, filed in the United States District Court for the Central District of California, alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you You have purchased or acquired Xponential Class A common stock and/or would like to discuss your legal rights and options. Visit the Xponential Fitness, Inc. Shareholder Class Action Lawsuit or contact your Investor Relations Manager. peter allocco (212) 951-2030 or [email protected].
If you wish to serve as lead plaintiff, you must move the court no later than the deadline for April 9, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to be the lead plaintiff to participate in the recovery. If you choose to do nothing, you may remain an absent class member.
According to the complaint, Xponential is the world’s largest franchisor of boutique fitness brands, offering 10 brands in categories including Pilates, indoor cycling, barre, stretching, rowing, dance, boxing, running, functional training, and yoga. They claim to have a platform. .
During the class period, the defendants allege that Xponential’s franchisees, from which it derived substantially all of its revenue, have largely failed, the majority of its store brands have lost money, and dozens of studios have lost money. More than 100 franchisees were put up for sale at a fraction of their initial cost, allegedly for failing to disclose that they were operating under the same name (some studios were forced into the red and permanently closed). I am. Despite this harsh reality, Xponential signs up new franchisees with misleading promises of solid financial returns, misleading claims about past studio performance, and deceptive guarantees of corporate support. I convinced him to do it. Defendants concealed and failed to disclose these studio disadvantages, instead showing that Xponential was financially sound in order to raise hundreds of millions of dollars from public investors at fraudulently inflated prices. He claimed that there was.
On June 26, 2023, analyst Fuzzy Panda published a research report entitled “Xponential Fitness (XPOF) – The Abusive Franchisor That Is a House in the Sand” (the “Fuzzy Panda Report”). The Fuzzy Panda report claims to be based on more than 16,000 pages of research, as well as “numerous interviews” and other information contained in 64 franchise disclosure documents filed with the Federal Trade Commission and various state regulators. did. The Fuzzy Panda report said the allegations it contains “often have multiple sources.”
December 7, 2023 bloomberg businessweek (“business week”) published a damning exposé about the company that mostly confirms the claims of the Fuzzy Panda report titled “Club Pilates, Pure Bar Owner Says Xponential is Bankrupt.”The article said: business week interviewed dozens of our former business partners, employees, and franchisees and revealed that Xponential was misleading many franchisees into a “financial nightmare.” The article states that the defendant’s CEO, Anthony Geisler, is a “belligerent businessman who has developed a strategy of growth at all costs and aggressively retaliates against those who stand in his way.” He has a track record of The article revealed that these unscrupulous tactics “harmed many of the company’s franchisees.” [to] Either you are declared bankrupt or you lose your retirement savings. ”
Following this news, the company’s stock price fell $1.59, or 13%, to close at $10.60 per share on December 8, 2023.
If you You have purchased or acquired Class A Xponential common stock and/or would like to discuss your legal rights and options. Visit the Xponential Fitness, Inc. Shareholder Class Action Lawsuit or contact your Investor Relations Manager. peter allocco (212) 951-2030 or [email protected].
Since 1993, Bernstein Liebhardt LLP has recovered more than $3.5 billion for clients. In addition to representing individual investors, our firm is retained by some of the nation’s largest public and private pension funds to monitor their assets and litigate on their behalf. I am. As a result of our success in hundreds of lawsuits and class actions, we have been named to the National Law Journal’s “Plaintiffs’ Watch List” 13 times and listed on the Legal 500 list for 16 consecutive years.
Lawyer advertisement. © 2024 Bernstein Liebhardt Law Offices. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Previous results do not guarantee or predict similar results with respect to future matters.
contact address:
peter allocco
Investor Relations Manager
Bernstein Liebhardt Law Office
https://www.bernlieb.com
(212) 951-2030
[email protected]
