NEW YORK, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Xponential Fitness, Inc. (“Xponential” or the “Company”) (NYSE: XPOF). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Xponential and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 26, 2023, Fuzzy Panda Research (“FPR”) published a report on Xponential entitled “Abusive Franchisor That Is A House Of Cards.” Citing interviews with franchisees and disclosure documents, the FPR report alleged that Xpontential’s Founder and Chief Executive Officer “Anthony Geisler, has a long history of misleading investors and business partners” and that Xponential “is hiding the fact that many of [the Company’s] brands and franchisees are struggling.”
On this news, Xponential’s stock price fell $9.38 per share, or 37.36%, to close at $15.73 per share on June 27, 2023.
Then, on December 11, 2023, Xponential disclosed that the U.S. Securities and Exchange Commission had contacted Xponential, “requesting that the Company provide it with certain documents.”
On this news, Xponential’s stock price fell $1.61 per share, or 15.19%, to close at $8.99 per share on December 11, 2023.
On January 3, 2024, Piper Sandler downgraded Xponential from overweight to neutral, citing lowered confidence in management’s ability to meet long-term growth and margin targets.
On this news, Xponential’s stock price fell sharply during intraday trading on January 3, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
