Law firm Pomerantz is investigating the claims

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NEW YORK, July 27 18, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in F45 Training Holdings Inc. (“F45 Training” or the “Company”) (NYSE: FXLV). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.

The investigation focuses on whether F45 Training and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On or about July 15, 2021, F45 Training completed its initial public offering (“IPO”), selling 18.75 million shares at a price of $16.00 per share. Then, on July 26, 2022, F45 issued a press release titled “F45 Training Announces Strategic Update”. In the press release, F45 Training provided an updated 2022 revenue forecast of between $120 million and $130 million, down significantly from the previous forecast of $255 million to $275 million, citing continued macroeconomic uncertainty. The press release further revealed the departure of the company’s CEO, Adam J. Gilchrist, and announced that the company was “reducing its global workforce by approximately 110 employees.”

On this news, F45 Training’s stock price fell $2.16 per share, or 61.54%, to close at $1.35 per share on July 27, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

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