Berman Tabacco Announces Investigation of Xponential Fitness, Inc. (XPOF) for Potential Securities Law Violations
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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
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
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Berman Tabacco
Jay Eng, Esq.
One Liberty Square
Email: law@bermantabacco.com
Source: Berman Tabacco
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