XPOF - XPOF CLASS ACTION: Lead Plaintiff Deadline Approaching; Contact Robbins LLP for Information | Benzinga
SAN DIEGO, March 05, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Xponential Fitness, Inc. (NYSE:XPOF) common stock between July 26, 2021 and December 7, 2023. Xponential claims to be the largest global franchisor of boutique fitness brands.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: According to the complaint, defendants failed to disclose that the Company's franchisees – from whom Xponential derived substantially all of its revenue – were largely failing, with the majority of the Company's store brands losing money, dozens of studios operating at a loss (forcing some to close permanently), and more than 100 franchisees listed for sale at a fraction of their initial cost. Despite this grim reality, Xponential gained new franchisees through false and misleading promises of robust financial returns, misleading claims regarding past studio performance, and deceptive assurances of corporate support.
Plaintiff alleges that on December 7, 2023, Businessweek published a damning exposé ...