XPOF - XPOF NEWS: Johnson Fistel Notifies Xponential Fitness Investors to Seek Counsel Before Lead Plaintiff Class Action Deadline | Benzinga
SAN DIEGO, Feb. 26, 2024 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Xponential Fitness ("Xponential" or the "Company") (NYSE:XPOF). The class action is on behalf of shareholders who purchased or otherwise acquired securities between July 26, 2021 and December 7, 2023. Investors are hereby notified that they have until April 9, 2024, to move the Court to serve as lead plaintiff in this action.
The Xponential class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Xponential had permanently closed at least 30 stores; (ii) Xponential's reported same-store sales ("SSS") and average unit volume ("AUV") metrics had been misstated by excluding underperforming stores; (iii) 8 out of 10 Xponential brands were losing money monthly; (iv) over 50% of Xponential studios did ...