PHILADELPHIA, Feb. 21, 2024 (GLOBE NEWSWIRE) -- A securities fraud lawsuit has been filed against Xponential Fitness, Inc. (“Xponential”) (NYSE: XPOF). The lawsuit is captioned City of Taylor General Employees Retirement System v. Exponential Fitness, Inc., et al., No. 24-cv-00285 (C.D. Cal.), and is filed on behalf of purchasers of Xponential’s securities between July 26, 2021 and December 7, 2023, inclusive (the “Class Period”).
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Investors who purchased or acquired Xponential securities during the Class Period may, no later than April 9, 2024, seek to be appointed as a lead plaintiff representative of the class.
The lawsuit alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that, among other things: (i) Xponential had permanently closed at least 30 stores; (ii) Xponential’s reported same-store sales and average unit volume metrics had been misstated by excluding underperforming stores; (iii) 8 out of 10 Xponential brands were losing money monthly; and (iv) more than 100 of Xponential’s franchises were for sale at a price that was at least 75% less than the initial cost.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: James Maro at jmaro@bm.net or (267) 637-3176, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015 or CLICK HERE.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts:
James Maro, Senior Counsel
Berger Montague
(267) 637-3176
jmaro@bm.net
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
