Grabar Law Office is investigating claims on behalf of shareholders of Planet Fitness, Inc. (NYSE: PLNT). The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Clubs, and Equipment. The Franchise segment includes operations related to the franchising business in the United States, Puerto Rico, Canada, Panama, Mexico and Australia. The Corporate-owned clubs segment includes operations with corporate-owned clubs in the United States, Canada, and Spain. The Equipment segment includes the sale of equipment to franchisee-owned clubs; and the sale of fitness equipment to franchisee-owned clubs in the United States, Canada, and Mexico.

WHY? As alleged in a recently filed securities fraud class action complaint, Planet Fitness, Inc. (NYSE: PLNT), through certain of its executives, violated federal securities laws by making false and/or misleading statements when regarding Planet Fitness’ national rollout of an increase to its Black Card membership tier pricing and touted the ability to continue the prior year’s marketing campaign. Defendants relied upon expected membership volume growth and rate increases to present an overly rosy three-year growth algorithm. Defendants’ statements included, among other things, confidence in the Company’s brand health, its “We Are All Strong on This Planet” marketing messaging, and its purportedly resilient high-value, low-price (“HVLP”) subscription business model.  Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Planet Fitness’ customer acquisition and marketing metrics. Notably, the Company’s updated marketing messaging was failing to resonate with, and was actively intimidating, its core target demographic of fitness beginners and casual gym-goers. As a result, Planet Fitness was experiencing a significant headwind in net member joins during its peak first-quarter sign-up period that rendered its previously issued fiscal 2026 guidance and long-term financial targets unachievable. Instead, Planet Fitness would be required to restructure its marketing strategy, losing the gains they praised from continuing the same marketing campaign, and entirely halt the planned Black Card price increase which sale projections were premised upon. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Planet Fitness’ securities at artificially inflated prices.

Then, on May 7, 2026, Planet Fitness announced its financial results for the first quarter of fiscal year 2026, revealing that its critical peak sign-up period was off to a slower-than-expected start internally. Management slashed full-year 2026 growth guidance, notably 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. Management then announced they were pausing the planned national rollout of the Black Card price increase to prioritize revitalizing new membership growth.

WHAT CAN YOU DO NOW? If you purchased Planet Fitness, Inc. (NYSE: PLNT), shares prior to November 6, 2025, and still hold shares today, you are encouraged to contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.  You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. Alternatively, if you purchased Planet Fitness shares between November 6, 2025, and May 6, 2026, you can participate in the class action.

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