Bragar Eagel & Squire, P.C. announced that a class action lawsuit has been filed against Planet Fitness, Inc. in the United States District Court for the District of New Hampshire on behalf of investors who purchased or acquired Planet Fitness common stock between November 6, 2025, and May 6, 2026. The lawsuit alleges that the company made false and misleading statements and failed to disclose material adverse facts about its ability to nationally roll out a Black Card price increase, its projected membership growth and sales growth, and its ability to drive new joins through its marketing campaign. On May 7, 2026, Planet Fitness reported disappointing membership growth, cut its 2026 revenue growth guidance from approximately 9% to about 7%, and reduced adjusted EBITDA growth guidance from roughly 10% to approximately 6%, while also pausing the planned national Black Card price increase pending a broader pricing review. The stock fell $19.95 per share, or 31%, from a closing price of $63.96 on May 6, 2026, to $44.01 on May 7, 2026. Investors have until September 14, 2026, to seek appointment as lead plaintiff.
Planet Fitness IncClass action lawsuit alleging false statements and failure to disclose material facts about pricing, membership growth, and marketing; stock dropped 31%.