SAN DIEGO, Dec. 11, 2022 (GLOBE NEWSWIRE) —

The class: Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all individuals and entities that purchased or otherwise acquired F45 Training Holdings, Inc. FXLV Shares pursuant to the Company’s initial public offering of July 16, 2021 (“IPO”). The complaint alleges violations of the Securities Act of 1933. F45 is a fitness franchisor with a business model based on rapid growth through the franchising of low-overhead fitness facilities. At the time the company went public, it had 2,801 franchises in 68 countries.

What now: Shareholders in a similar situation may be eligible to participate in the class action lawsuit against F45. Shareholders who wish to be lead plaintiffs in the class action must file their filings by February 6, 2023. A Lead Plaintiff is a representative party acting on behalf of other Class Plaintiffs in the conduct of the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

What is it about in this case: F45 Training Holdings, Inc. made false and misleading statements in support of its IPO

According to the complaint, F45 went public on July 16, 2021 and issued 18.75 million shares at $16.00 per share. F45’s registration statement in support of its IPO outlined its advantage over traditional owner-managed fitness facilities, both because the franchise model “has enabled us to open new studios at an accelerated pace than the owner-operator model” and because it is fast Companies generated revenue for the company because “[f]or the majority of the franchises we sell, we receive an upfront payment from the franchisee.” However, defendants’ registration statement was false and misleading as to the company’s revenue streams and its ability to sustain its rapidly expanding business model.

In its prospectus, the company indicated that it intends to…