LOS ANGELES, Jan. 20, 2023 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP (“GPM”) is offering investors February 6, 2023 Deadline to file a motion for the lead plaintiff in a class action filed on behalf of an investor who purchased or acquired common stock of F45 Training Holdings Inc. (“F45” or the “Company”) (NYSE: FXLV). Our registration statement, accompanying prospectus and supplemental prospectus issued in connection with our July 2021 initial public offering (“IPO”) (collectively, the “Registration Statement”).
If you have suffered a loss on your F45 investment or wish to inquire about the possibility of pursuing a claim to recover your losses under federal securities laws, please contact www.glancelaw.com/cases/f45-training-holdings- You can send contact information with inc. /. You may also contact Charles H. Linehan, GPM at 310-201-9150, toll-free 888-773-9224, or email firstname.lastname@example.org for more information on your rights.
On July 16, 2021, F45 conducted its IPO, selling 18.75 million shares of common stock at $16 per share.
Following the market closure on July 26, 2022, F45 released a “strategic update” that calls for fiscal 2022 earnings to be “up from $255 million to $275 million compared to previous guidance of $275 million.” , between $120 million and $130 million.” Under a “comprehensive review of strategic and financial priorities,” the company will reduce its global workforce by approximately 110 people. F45 also announced that founder, CEO and president Adam Gilchrist has stepped down.
The news sent F45’s stock price down by $2.16 (61.5%) to close at $1.35 per share on July 27, 2022 (representing a drop of more than 78% from its IPO price), giving investors did damage.
The complaints filed in this class action allege that defendants made material false and/or misleading statements and failed to disclose material adverse facts regarding our business, operations and prospects. Specifically, defendants failed to disclose to investors that F45’s rapid growth strategy was unsustainable and dependent. above allwas an unsustainable model, with franchisees opening multiple locations in a short period of time and relying on franchisees who required nearly 100% of the business’s capital to get started.
Stay up to date on LinkedIn, Twitter, or Facebook.
Any purchase or acquisition of F45 common stock pursuant to and/or traceable to the IPO may be moved to court at the latest February 6, 2023 We request appointment as the lead plaintiff in this putative class action. You do not have to do anything at this time to become a member of the class action. You can retain your attorney of choice or take no action and remain an absent member of the class. If you would like to learn more about this class or if you If you have any questions about your rights or interests, please contact Charles Linehan, GPM, Esquire, 1925 Century Park East, Suite. 2100, Los Angeles, California 90067 Call 310-201-9150, toll-free 888-773-9224, email email@example.com or visit www.glancelaw.com. If you contact us by email, please provide your mailing address, phone number, and number of shares purchased.
This press release may be considered attorney advertising in some jurisdictions under applicable legal and ethical rules.
Glance Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224