F45 Training Holdings, Inc. Investors: Company Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 10, 2022 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises F45 Training Holdings, Inc. (NYSE: FXLV) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. F45 investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on F45’s statements leading up to and after the company July 2021 IPO.
Specifically, in connection with F45’s IPO the company promoted the rapid scalability of its business model as helping to promote the success of its franchisees. In addition, as recently as May 16, 2022, F45 Training assured investors that it had secured a $250 million line of credit that it could extend to franchisees to secure its target of 1,000 new studio openings in 2022.
Doubts about F45’s representations emerged on July 26, 2022, when F45 announced that: (1) 2022 net studio openings would be more than 50% less that promised (i.e. between 350 and 450 vs. 1,000); (2) the $250 million credit line “will not be available,” (3) its CEO (Adam Gilchrist) left his position more than a month beforehand (on June 24, 2022); and, (4) it is firing approximately 110 employees.
This news sent the price of F45 shares crashing 61% lower on July 27, 2022.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
[email protected]
310-692-8883
www.portnoylaw.com
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