NEW ORLEANS, March 22, 2024 /PRNewswire/ — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until April 9, 2024 to file lead plaintiff applications in a securities class action lawsuit against Xponential Fitness, Inc. (NYSE: XPOF), if they purchased the Company’s publicly traded Class A shares between July 26, 2021 and December 7, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
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Xponential investors should visit us at https://claimsfiler.com/cases/nyse-xpof/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Xponential Fitness and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 7, 2023, a report by Bloomberg Businessweek highlighted many problems with the Company based on interviews with dozens of its former business partners, employees, and franchisees who revealed that the Company misled many franchisees into a “financial nightmare” and that the Company’s CEO “has a track record of combative management, deploying growth-at-all-costs tactics and unleashing aggressive reprisals against anyone who gets in his way,” and further that as a result of these unscrupulous tactics “many of the company’s franchisees…have either declared bankruptcy or lost their retirement savings.”
On this news, the price of Xponential’s shares fell more than 26% over two trading days on heavy trading volume to close at less than $9 per share on December 11, 2023.
The case is City of Taylor General Employees Retirement System v. Xponential Fitness, Inc., No. 24-cv-00285.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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