(MENAFN- PR Newswire) SAN FRANCISCO, April 1, 2024 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential legal claims on behalf of shareholders of Xponential Fitness, Inc. (NYSE: XPOF ) relating to possible false and misleading public statements and significant insider trading by key executives and the company's chairman.
Xponential is one of the largest global franchisors of boutique fitness brands. Its financial results largely depend upon the success of Xponential's franchisees. Xponential and certain of its current executives are currently named as defendants in a securities class action lawsuit filed in the U.S. District Court for the Central District of California. There, the plaintiff alleges that the defendants misled the public about Xponential's business prospects by concealing that over 50% of its studios did not earn a positive financial return, nearly all of its brands were losing money monthly, it had permanently closed down at least thirty locations, many of its franchises were listed for sale at a fraction of their original purchase prices, and by misstating key company performance metrics. When the truth was revealed, the plaintiff alleges that Xponential's stock price plummeted. While the stock allegedly traded at artificially high prices, company insiders sold almost $270 million in Xponential stock.
The Schubert Firm is investigating potential wrongdoing by Xponential's directors and officers in connection with these allegations.
If you own stock in Xponential Fitness, Inc. and wish to obtain additional information about your legal rights, please contact us
today or visit our website at .
About Schubert Jonckheer & Kolbe LLP
Schubert Jonckheer & Kolbe
represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. The firm is based in San Francisco, and with the help of co-counsel, litigates cases nationwide.
Contact
Dustin L. Schubert
Schubert Jonckheer & Kolbe LLP
[email protected]
Tel: 415-788-4220
SOURCE Schubert Jonckheer & Kolbe LLP
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