NEW YORK, March 14, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of Xponential Fitness, Inc..
Shareholders who purchased shares of XPOF during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/xponential-fitness-loss-submission-form/?id=70862&from=4
CLASS PERIOD: July 26, 2021 to December 7, 2023
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) Xponential had permanently closed at least 30 stores; (b) Xponential's reported same-store sales ("SSS") and average unit volume metrics had been misstated by excluding underperforming stores; (c) 8 out of 10 Xponential brands were losing money monthly; (d) over 50% of Xponential studios did not make a positive financial return; (e) over 60% of Xponential's revenue was one-time and nonrecurring; (f) more than 100 of the Company's franchises were for sale at a price that is at least 75% less than their initial cost; (g) Xponential had misled many of its franchisees into opening franchises by misrepresenting the financial profile and profitability of its studios, as well as the expected rate of return for new studio openings; (h) many Xponential franchisees were substantially in debt, suffering high attrition rates and running non-viable studios that had no realistic path to profitability; and (i) based on the foregoing, defendants lacked a reasonable factual basis for their positive statements about Xponential's then-current business operations and future financial prospects.
DEADLINE: April 9, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/xponential-fitness-loss-submission-form/?id=70862&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of XPOF during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is April 9, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-gross-law-firm-reminds-xponential-fitness-investors-of-the-pending-class-action-lawsuit-with-a-lead-plaintiff-deadline-of-april-9-2024--xpof-302088546.html
SOURCE The Gross Law Firm
