ACCESSWIRE
21 Jan 2023, 01:05 GMT+10
SAN FRANCISCO, CA / ACCESSWIRE / January 20, 2023 / Hagens Berman urges Planet Fitness, Inc. (NYSE:PLNT) investors who suffered significant losses to submit your losses now.
Visit: https://www.hbsslaw.com/investor-fraud/PLNT
Contact An Attorney Now: PLNT@hbsslaw.com
844-916-0895
Planet Fitness, Inc. (PLNT) Investigation:
The investigation focuses on Planet Fitness' statements about its business, operations, and growth prospects.
In recent quarters, Planet Fitness has touted its 'steady recovery from the pandemic,' boasting that it has reached an all-time record high in members, its low cancellation rate and 50% year-over-year revenue growth. Planet Fitness attributed the success to its making the sign-up process even more seamless and targeted customer acquisition strategy
Planet Fitness' claims came into question on Jan. 19, 2023, when The Bear Cave published a scathing report based on information it received through numerous Freedom of Information Act requests, concluding 'investors believe the franchise network is healthy and has room to grow. The Bear Cave doesn't.'
The Bear Cave reported that it has uncovered hundreds of consumer complaints concerning overbilling, fraudulent transactions, excessive fees, and non-cancellable memberships. The Bear Cave also alleges 'Planet Fitness created a fake investor presentation slide to obscure franchisee saturation' and '[a]fter reviewing the evidence, The Bear Cave is left wondering whether Planet Fitness is actually a thriving gym franchise or an illegal billing operation with gyms on the side.'
In response, the price of Planet Fitness shares declined on Jan. 19, 2023.
'We're focused on investors' losses and whether Planet Fitness may have misled investors by, among other things, reporting illegally-obtained revenues,' said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Planet Fitness and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Planet Fitness should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email PLNT@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
Get a daily dose of Salt Lake City Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Salt Lake City Sun.
More InformationJERUSALEM, Israel: As demand for its driver-assistance technology rises among vehicle-makers, Mobileye Global is forecasting revenues for the 2023 fiscal ...
NEW YORK, New York - U.S. stocks closed sharply lower Monday as investors fretted over which way the Federal Reserve ...
Ahmedabad (Gujarat) [India], January 30 (ANI/Big News Network): The Adani group, in a sharp and focused response to Hindenburg Research's ...
SEOUL, South Korea: South Korean officials have said that the government will double energy vouchers and provide discounts on gas ...
WASHINGTON D.C.: The Wall Street Journal has reported that e-cigarette maker Juul and three tobacco giants are negotiating potential sale, ...
AUSTIN, Texas: Tesla gas announced an investment of more than $3.6 billion to expand its Nevada Gigafactory complex with the ...
After requesting records of communications involving members of Augusta National to assist with its lawsuit against the PGA Tour, LIV ...
Washington [US], January 31 (ANI): National Security Advisor Ajit Doval, his American counterpart Jake Sullivan, US Secretary of Commerce Gina ...
Atlanta point guard Trae Young sat out the Hawks' Monday night game against the host Portland Trail Blazers due to ...
Boston Celtics interim head coach Joe Mazzulla will coach Team Giannis in the 2023 NBA All-Star Game in Salt Lake ...
Kyrie Irving scored 26 points as the Brooklyn Nets started quickly and made enough plays down the stretch for a ...
Washington [US], January 31 (ANI): United States President Joe Biden's administration on Monday announced plans to end the twin national ...