RADNOR, PA / ACCESSWIRE / December 20, 2023 / The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating Xponential Fitness, Inc. (NYSE:XPOF) ("Xponential") for potential violations of the federal securities laws.
On June 26, 2023, market analyst Fuzzy Panda Research published a short-sellers report alleging, among other things, that Xponential is "hiding the fact that many of their brands and franchisees are struggling." The report further alleges that, despite the claims of Xponential's CEO that the company has "never closed a store," Fuzzy Panda found over 30 permanently closed stores. Moreover, the report claims that franchise documents of Xponential suggest that 8 out of every 10 Xponential brands are losing money monthly, with over half of Xponential studios never making a positive financial return. Following this news, Xponential's stock price fell $9.39, or 37.4%, to close at $15.72 per share on June 27, 2023.
Then, on December 11, 2023, Xponential disclosed that the SEC has asked the company to provide the agency with "certain documents." Following this news, Xponential's stock price fell $1.61, or over 15%, to close at $8.99 per share that same day.
If you are an Xponential investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/xponential-fitness-inc-investigation?utm_source=PR&utm_medium=link&utm_campaign=xpof&mktm=r
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com
SOURCE: Kessler Topaz Meltzer & Check, LLP
View the original
press release on accesswire.com
