Planet Fitness, Inc. (NYSE: PLNT)

This investigation is for anyone who acquired securities in Planet Fitness, Inc. (NYSE: PLNT) prior to September 15, 2023.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that it complied with all applicable laws but then by overbillng its customers and refusing to allow them to cancel their memberships, in violation of the law.

On January 19, 2023, The Bear Cave published a report alleging, among other things, that Planet Fitness overbilled customers and prevented them from canceling their memberships, resulting in numerous consumer complaints to states’ attorneys general. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on September 15, 2023, Planet Fitness announced that the Company’s board of directors had made “the decision . . . to transition to new leadership” and that the Company’s CEO would be stepping down, effective immediately. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Planet Fitness, Inc. (NYSE: PLNT) prior to September 15, 2023 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.