PHILADELPHIA, June 30, 2023 (GLOBE NEWSWIRE) -- Barrack, Rodos & Bacine is investigating potential claims on behalf of investors of shares of Xponential Fitness Inc. (“Xponential”) (NYSE: XPOF), a franchisor of fitness brands. The investigation concerns the possibility that Xponential, and certain of its officers and directors, engaged in securities fraud or other unlawful business practices.
On June 27, 2023, a short seller research firm, Fuzzy Panda Research, issued a report claiming that Xponential has misled investors across many fronts. Among the allegations in the report are that: Xponential misled investors about the number of franchises that it has either closed or which are for sale at drastically reduced prices; it excluded underperforming franchises in its financial reporting; Xponential’s CEO and Chair, Anthony Geisler, has “a long history of misleading investors and business partners,” which misrepresentations have culminated in lawsuits against him; and Geisler has sold millions of dollars’ worth of shares of XPOF in recent months.
Shares of Xponential stock fell $9.39 per share, or 37%, on the publication of the report and the stock continues to trade well below its closing price on June 26, the day before the research report was issued.
If you have sustained losses in your investment in shares of Xponential Fitness, we encourage you to discuss your rights by contacting Mark R. Stein or Linda Border at Barrack, Rodos & Bacine, at the toll-free number 877-386-3304, or via email at investoralert@barrack.com. For more information about Barrack, Rodos & Bacine, please visit the firm’s website.
Philadelphia-based Barrack Rodos & Bacine has more than four decades of experience prosecuting securities law class actions, including cases involving accounting fraud and insider trading, and has achieved some of the largest recoveries in U.S. history of securities litigation. The firm's largest recoveries on behalf of investors include $6.19 billion for WorldCom investors, $3.32 billion for Cendant investors, $1.05 billion for McKesson investors, and $970.5 million for AIG investors.
