The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Planet Fitness, Inc. (“Planet Fitness” or the “Company”) (NYSE: PLNT) common stock between November 6, 2025 and May 6, 2026, inclusive (the “Class Period”). Planet Fitness investors have until September 14, 2026 to file a lead plaintiff motion.

What Happened?

On May 7, 2026, Planet Fitness released its first quarter 2026 financial results, slashing same-store growth from 4-5% to only 1%, and completely withdrawing its long-term three-year growth algorithm it had introduced just six months prior, citing, among other things, an over-pivoted marketing campaign that failed to resonate with its core customer base, alongside external competition. The Company further disclosed that it was pausing its planned national rollout of its Black Card price increase to prioritize revitalizing new membership growth.

On this news, Planet Fitness’s stock price fell $19.95, or 31.2%, to close at $44.01 per share on May 7, 2026, thereby injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Planet Fitness could not continue to grow its membership rate at the level necessary without a significant overhaul to its marketing message or the introduction of new marketing campaigns, nor could it proceed with the planned rollout of the Black Card price increase that such guidance was significantly reliant upon; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.