NEW YORK–(BUSINESS WIRE)–#A–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Planet Fitness, Inc. (“Planet Fitness” or the “Company”) (NYSE: PLNT) on behalf of Planet Fitness stockholders. Our investigation concerns whether Planet Fitness has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 19, 2023, market analyst The Bear Cave published a report titled “Problems at Planet Fitness.” Among other things, the report alleged that Planet Fitness released an inaccurate slide understating market saturation in an investor presentation, and that, as a standard practice, it overbilled customers and prevented them from cancelling their memberships, resulting in lawsuits around the country. After reviewing the evidence, The Bear Cave stated it was “left wondering whether Planet Fitness is actually a thriving gym franchise or an illegal billing operation with gyms on the side.”
On this news, Planet Fitness’s stock price fell $1.96 per share, or 2.4%, in intraday trading.
If you purchased or otherwise acquired Planet Fitness shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.