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Planet Fitness, Inc.

Company NamePlanet Fitness, Inc.
Stock SymbolPLNT

On January 19, 2023, The Bear Cave published a report alleging, among other things, that Planet Fitness overbilled customers and prevented them from cancelling their memberships, resulting in numerous consumer complaints to states’ attorneys general.

On this news, Planet Fitness’s stock price fell $3.72, or 4.5%, over two consecutive trading days to close at $79.22 per share on January 20, 2023, thereby injuring investors.

Then, on September 15, 2023, Planet Fitness announced that the Company’s board of directors had made “the decision . . . to transition to new leadership” and that the Company’s CEO would be stepping down, effective immediately.

On this news, Planet Fitness’s stock price fell $9.51, or 15.9%, to close at $50.29 per share on September 15, 2023, thereby injuring investors further.

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