scuss their legal rights in this class action.
The class action lawsuit alleges that Xponential made false and/or misleading statements and/or failed to disclose that: (1) the Company’s sales team was engaged in a fraudulent scheme to deceive consumers and drive sales and growth; (2) the Company’s revenues were being inflated through the fraudulent scheme, which was causing Xponential to overstate its financial results; and (3) as a result, Xponential’s public statements were materially false and misleading at all relevant times.
On December 7, 2023, The Wall Street Journal published an article reporting that Xponential’s sales team had engaged in a fraudulent scheme to deceive consumers and drive sales and growth. The article also reported that Xponential had terminated multiple employees as a result of the fraudulent scheme. On this news, the Company’s share price fell $2.08, or approximately 13%, to close at $13.94 per share on December 7, 2023, thereby injuring investors.
If you purchased Xponential Class A common stock during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.
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