NEW
YORK, March 29, 2024 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of
Xponential Fitness, Inc. (NYSE: XPOF).
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=73184&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=73184&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
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SOURCE The Gross Law Firm