Berman Tabacco Announces Investigation of Xponential Fitness, Inc. (XPOF) for Potential Securities Law Violations
December 13 2023 - 4:24PM
Business Wire
Berman Tabacco, a national law firm representing investors, is
investigating potential securities law violations by Xponential
Fitness, Inc. ("Xponential" or the "Company") (NYSE: XPOF), global
franchisor of boutique fitness brands based in Irvine,
California.
About the Investigation
On December 7, 2023, Bloomberg Businessweek published an article
titled “Club Pilates, Pure Barre Owners Say Xponential Left Them
Bankrupt.” The article reported, among other things, that “[m]ore
than 30 former and existing franchisees … spoke to Businessweek on
the condition of anonymity because they feared legal retribution.
They say Xponential deliberately misled them and their peers about
the strength of the individual franchises prior to signing the
agreement.” The article also noted that “Xponential, in a statement
to Businessweek, rejects these assertions, explaining that all
prospective owners, by law, are given franchise disclosure
documents with financials to review that regulators have
approved.”
On December 11, 2023, before the market open, the Company
disclosed in a Form 8-K filing that “[o]n December 5, 2023,
[Xponential] was contacted by the Securities and Exchange
Commission (the ‘SEC’), requesting that the Company provide it with
certain documents.” Shares of Xponential fell $1.61 per share (or
15%) to close at $8.99 per share, on December 11, 2023.
Contact
If you have information concerning this investigation, please
contact us here: Contact | Berman Tabacco.
About Berman Tabacco
Since 1982, our firm has prosecuted hundreds of securities and
antitrust complex cases. The firm and its attorneys have been
recognized for their work on behalf of plaintiffs, including by
Chambers USA, Benchmark Litigation, which has ranked the firm as
Highly Recommended and a Top Ten Plaintiffs, The Legal 500, U.S.
News & World Report-Best Lawyers, The Daily Journal, Lawdragon,
Who's Who Legal, and Super Lawyers.
The firm has offices in Boston, Massachusetts and San Francisco,
California.
This notice may constitute attorney advertising.
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version on businesswire.com: https://www.businesswire.com/news/home/20231213131713/en/
Berman Tabacco Jay Eng, Esq. One Liberty Square Boston,
Massachusetts Email: law@bermantabacco.com
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