XPOF - Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Xponential Fitness Inc. (XPOF) | Benzinga

NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired Xponential Fitness, Inc. ("Xponential" or the "Company") (NYSE:XPOF) securities between July 26, 2021 to December 7, 2023, inclusive (the "Class Period").

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company had permanently closed at least 30 stores; (ii) the Company's reported SSS and AUV metrics had been misstated by excluding underperforming stores; (iii) 8 out of 10 Company brands were losing money monthly; (iv) over 50% of the Company's studios did not make a positive financial return; (v) over 60% of the Company's revenue was one-time and non-recurring; (vi) more than 100 of the Company's franchises were priced for sale at least 75% less than their initial cost; (vii) the Company had misled many of its franchisees into ...

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