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PLNT Deadline: PLNT Investors Have Opportunity to Lead Planet Fitness, Inc. Securities Fraud Lawsuit
The firm says investors may seek lead-plaintiff status as it alleges Alibaba made false or misleading statements that harmed shareholders.
Bleichmar Fonti & Auld LLP filed a class action lawsuit against Planet Fitness, Inc. in the U.S. District Court for the District of New Hampshire, alleging securities fraud related to the company's failed marketing campaign.
The complaint alleges Planet Fitness misrepresented marketing success to investors; executives later admitted on an earnings call that the campaign "may have pivoted too far" from its lighthearted tone.
Planet Fitness stock declined 31% on May 7, 2026, after announcing disappointing membership growth; the company cut revenue guidance from approximately 9% to about 7% and adjusted EBITDA guidance from roughly 10% to approximately 6%.
In response to disappointing results, the company paused planned Black Card price increases pending a broader pricing review, halting increases that sales projections were previously premised on.
Investors seeking to serve as lead plaintiff must move the Court no later than September 14, 2026, with BFA encouraging shareholders to visit their website for additional case information.