XPOF - XPOF INVESTOR ALERT: Bronstein Gewirtz & Grossman LLC Announces that Xponential Fitness Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit! | Benzinga
NEW YORK, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Xponential Fitness, Inc. ("Xponential" or "the Company") (NYSE:XPOF) and certain of its officers.
Class Definition:
This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Xponential securities between July 26, 2021 and December 7, 2023, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/XPOF.
Case Details:
The Complaint alleges that Xponential made materially false and/or misleading statements because they misrepresented and failed to disclose the following adverse facts, which were known to defendants or recklessly disregarded by them:
(1) that Xponential had permanently closed at least 30 stores;
(2) that Xponential's reported SSS and AUV metrics had been misstated by excluding underperforming stores;
(3) that 8 out of 10 Xponential brands were losing money monthly;
(4) that over 50% of Xponential studios did not make a positive financial return;
(5) that over 60% of Xponential's revenue was one-time and nonrecurring;
(6) that more than 100 of the Company's franchises were for sale at a price that is at least 75% less than their initial cost;
(7) that Xponential had misled many of its franchisees into opening ...