Planet Fitness, Inc. Investigation - PLNT

Case Summary

Investors who suffered a loss and would like to learn more, click here to contact us.

Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving Planet Fitness, Inc. (NYSE: PLNT) focused on whether Planet Fitness and certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors (the “Planet Fitness Investigation”).

If you have information that could assist in the Planet Fitness Investigation or if you are a Planet Fitness investor who suffered a loss and would like to learn more, you can provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.

THE COMPANY: Planet Fitness claims to be one of the largest and fastest-growing franchisors and operators of fitness centers in the world by number of members and locations.

THE REVELATIONS: On January 19, 2023, The Bear Cave published a report entitled “Problems at Planet Fitness (PLNT),” asserting that “[t]hrough numerous Freedom of Information Act requests, The Bear Cave has uncovered hundreds of consumer complaints concerning overbilling, fraudulent transactions, excessive fees, and uncancellable memberships.”  The Bear Cave further alleged that it “believes Planet Fitness created a fake investor presentation slide to obscure franchisee saturation.”  Following the report, Planet Fitness’ stock price fell.

Then, on September 15, 2023, Planet Fitness revealed that the company had ousted its CEO.  As CNBC reported, “[i]n a move that stunned investors and employees alike,  Planet Fitness ousted company veteran Chris Rondeau from his post as CEO.”  Following this news, Planet Fitness’ stock price declined by nearly 16%.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list.  And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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