NEW ORLEANS, March 26, 2024 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 9, 2024 to file lead plaintiff applications in a securities class action lawsuit against Xponential Fitness, Inc. (NYSE: XPOF), if they purchased the Company’s publicly traded Class A shares between July 26, 2021 and December 7, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of Xponential Fitness as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-xpof/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 9, 2024.
About the Lawsuit
Xponential Fitness and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 7, 2023, a report by Bloomberg Businessweek highlighted many problems with the Company based on interviews with dozens of its former business partners, employees, and franchisees who revealed that the Company misled many franchisees into a “financial nightmare” and that the Company’s CEO “has a track record of combative management, deploying growth-at-all-costs tactics and unleashing aggressive reprisals against anyone who gets in his way,” and further that as a result of these unscrupulous tactics “many of the company’s franchisees…have either declared bankruptcy or lost their retirement savings.”
On this news, the price of Xponential’s shares fell more than 26% over two trading days on heavy trading volume to close at less than $9 per share on December 11, 2023.
The case is City of Taylor General Employees Retirement System v. Xponential Fitness, Inc., No. 24-cv-00285.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
