F45 Training Holdings, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
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CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
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.
