NEW YORK, NY / ACCESSWIRE / August 14, 2022 / Pomerantz LLP is investigating claims on behalf of investors of F45 Training Holdings Inc. ('F45 Training' or the 'Company') (NYSE: FXLV). Such investors are advised to contact Robert S. Willoughby at email@example.com 888-476-6529, ext. 7980.
The investigation concerns whether F45 Training and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around July 15, 2021, F45 Training conducted its initial public offering ('IPO'), selling 18.75 million shares of stock priced at $16.00 per share. Then, on July 26, 2022, F45 issued a press release entitled 'F45 Training Announces Strategic Update'. In the press release, F45 Training provided updated 2022 revenue guidance in the range of $120 million to $130 million, down significantly from previous guidance of $255 million to $275 million, citing ongoing macroeconomic uncertainty. The press release further disclosed the departure of the Company's Chief Executive Officer Adam J. Gilchrist and announced that the Company is 'reducing 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 acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. 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 in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com
SOURCE: Pomerantz LLP
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