Levi & Korsinsky, LLP announces that a FXLV class action lawsuit has been filed on behalf of investors who purchased F45 Training Holdings Inc. (FXLV) common stock pursuant and/or traceable to the documents issued in connection with the Company's July 16, 2021 initial public offering. For more on the FXLV Lawsuit please contact us today.
According to the F45 Training Holdings Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
1) F45 Training could not maintain new franchise growth because it was offering more favorable payment terms to multi-unit franchisees; 2) F45 Training’s lackluster pace of growth was also accompanied by a massive and unsustainable increase in F45 Training’s accounts receivable and a similar, and equally unsustainable, decrease in its cash and cash equivalents; and 3) these practices were not sustainable at the time of the initial public offering, and when F45 Training could no longer sustain this defective business model, its growth rate and revenue plummeted.
If you suffered a loss in F45 Training Holdings Inc. you have until February 6, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.