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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of F45 Training Holdings Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of February 6, 2023 - (NYSE: FXLV)
News provided byThe Gross Law Firm
Jan 25, 2023, 5:45 AM ET
NEW YORK, Jan. 25, 2023 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of F45 Training Holdings Inc..
Shareholders who purchased shares of FXLV during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CLASS PERIOD: This lawsuit is on behalf of all persons and entities that purchased or otherwise acquired the common stock of F45 pursuant and/or traceable to documents issued in connection with the Company's July 16, 2021 initial public offering.
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: 1) F45 Training could not maintain new franchise growth because it was offering more favorable payment terms to multi-unit franchisees; 2) F45 Training's lackluster pace of growth was also accompanied by a massive and unsustainable increase in F45 Training's accounts receivable and a similar, and equally unsustainable, decrease in its cash and cash equivalents; and 3) these practices were not sustainable at the time of the initial public offering, and when F45 Training could no longer sustain this defective business model, its growth rate and revenue plummeted.
DEADLINE: February 6, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/f45-training-holdings-inc-class-action-submission-form/?id=35880&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of FXLV during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is February 6, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (646) 453-8903
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SOURCE The Gross Law Firm