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NEW YORK, Nov. 04, 2023 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Xponential Fitness, Inc. (“Xponential” or the “Company”) (NYSE: XPOF).
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On June 26, 2023, market analyst Fuzzy Panda Research issued a report entitled "Xponential Fitness (XPOF) - "Abusive Franchisor That Is A House of Cards"". The report alleged that Xponential's CEO, Anthony Geisler, "has a long history of misleading investors and business partners", including engaging in pump and dump schemes. The report stated that he'd been previously accused by former business associates of engaging in "scams" and "illegal business practices", and alleged that he has even in the past threatened others with a gun. In addition, the report alleged that the company's financials are less healthy than it has represented to investors, that it is likely violating its debt agreements, and, contrary to Geisler's claim that Xponential has "never closed a store", that there were many closed Xponential locations.
On this news, the price of Xponential Fitness stuck plummeted by over $8 a share, or 31.8%, in intraday trading on June 27, 2023.
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