WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of F45 Training Holdings Inc. (NYSE: FXLV) resulting from allegations that F45 may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased F45 securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=9602 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
WHAT IS THIS ABOUT: F45 Training Holdings Inc., went public in July 2021, when it sold 18.75 million shares priced at $16 per share in its IPO.
Then, essentially one year later, on July 26, 2022, after trading hours, F45 announced several strategic updates including: (1) a reduction in its financial guidance, from a range of $255 to $275 million to a new range of $120 to $130 million; (2) for the year it would open about 60% fewer exercise studios than stated (or 350 to 450 of them, versus 1,000); (3) for the year it would sell about 70% fewer new franchises than stated (or 350 to 450 of them, versus 1,500); (4) a $250 million credit line “will not be available”; (5) the Company was reducing its workforce by approximately 110 employees; and (6) the CEO, Adam Gilchrist, had resigned the previous month.
On this news, F45’s stock fell $2.16 per share, or 61%, to close at $1.35 per on July 27, 2022, on unusually heavy trading volume.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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