This lawsuit is for anyone who acquired securities in F45 Training Holdings, Inc. (NYSE: FXLV) from July 13, 2021 through December 18, 2022.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, in the Prospectus to the Company's IPO, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company failed to state in its Prospectus that the Company was having trouble securing financing for its franchises, and that because of the problem the Company would experience financial difficulties.
On July 26, 2022, after the market closed, F45 issued a “Strategic Update,” disclosing that it now expects its fiscal 2022 revenue “between $120 million and $130 million, compared to the prior guidance of $255 million to $275 million.” Based on a “comprehensive review of its strategic and financial priorities,” the Company would reduce its global workforce by about 110 positions. F45 also announced that its founder, CEO, and President, Adam Gilchrist, has stepped down. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume and trades currently lower than it did at the time of the IPO.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in F45 Training Holdings, Inc. (NYSE: FXLV) from July 13, 2021 through December 18, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.