ACCESS Newswire
05 Feb 2023, 08:49 GMT+10
NEW ORLEANS, LA / ACCESSWIRE / February 4. 2023 / Kahn Swick & Foti, LLC ('KSF') and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 6, 2023 to file lead plaintiff applications in a securities class action lawsuit against F45 Training Holdings, Inc. (NYSE: FXLV), if they purchased or acquired the Company's shares pursuant and/or traceable to the Company's July 2021 initial public offering (the 'IPO'). This action is pending in the United States District Court for the Western District of Texas.
What You May Do
If you purchased or acquired shares of F45 as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-fxlv/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by February 6, 2023.
About the Lawsuit
F45 and certain of its executives and others are charged with failing to disclose material information in its IPO Registration Statement and Prospectus (collectively, the 'Offering Documents'), violating federal securities laws.
On July 26, 2022, the Company disclosed that its CEO had resigned, that about 60% fewer exercise studios would be opening than previously stated, that a $250 million credit line was no longer available, and that it made significant cuts to its financial guidance including decreasing full-year 2022 revenue to just between $120 million and $130 million, compared to the prior guidance of $255 million to $275 million, and full-year Adjusted EBITDA between $25 million and $30 million, compared to the prior guidance of $90 million to $100 million. On this news, shares of F45 plummeted over 60%, from a close of $3.51 on July 26 to close at $1.35 on July 27, 2022, more than a 78% decline from its offering price of $16 per share on July 16, 2021.
The case is Kenzie Goer v. F45 Training Holdings, Inc., et al., No. 1:22-cv-01291.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE: Kahn Swick & Foti, LLC
Get a daily dose of Raleigh Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Raleigh Times.
More InformationREDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
(Photo credit: Lon Horwedel-Imagn Images) Cal Raleigh blasted his major league-leading 37th and 38th home runs, including a grand...
(Photo credit: Dale Zanine-Imagn Images) Matt Olson will replace Atlanta Braves teammate and fellow All-Star Ronald Acuna Jr. in...
(Photo credit: Nathan Ray Seebeck-Imagn Images) Athletics designated hitter Brent Rooker and New York Yankees second baseman Jazz...
(Photo credit: Nathan Ray Seebeck-Imagn Images) Athletics designated hitter Brent Rooker was the latest to commit to Monday's Home...