NEW YORK, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Xponential Fitness, Inc. (“Xponential” or the “Company”) (NYSE: XPOF) on behalf of Xponential stockholders. Our investigation concerns whether Xponential has violated the federal securities laws and/or engaged in other unlawful business practices.
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On June 26, 2023, market analyst Fuzzy Panda Research published a short-sellers report alleging, among other things, that Xponential is “hiding the fact that many of their brands and franchisees are struggling.” The report further alleges that, despite the claims of Xponential’s CEO that the company has “never closed a store,” Fuzzy Panda found over 30 permanently closed stores. Moreover, the report claims that franchise documents of Xponential suggest that 8 out of every 10 Xponential brands are losing money monthly, with over half of Xponential studios never making a positive financial return. Following this news, Xponential’s stock price fell $9.39, or 37.4%, to close at $15.72 per share on June 27, 2023.
Then, on December 11, 2023, Xponential disclosed that the SEC has asked the company to provide the agency with “certain documents.” Following this news, Xponential’s stock price fell $1.61, or over 15%, to close at $8.99 per share that same day.
If you purchased or otherwise acquired Xponential 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 Marion Passmore by email at investigations@bespc.com, 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.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
