NEW YORK, July 14, 2026 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired common stock of Planet Fitness, Inc. (“Planet Fitness” or the “Company”) (NYSE: PLNT) between November 6, 2025, and May 6, 2026, inclusive. You are hereby notified that the class action lawsuit Norie Matsunaga v. Planet Fitness, Inc., et al. (Case No. 1:26-cv-00576) has been commenced in the United States District Court for the District of New Hampshire. To get more information go to:
https://zlk.com/cases/planet-fitness-inc-class-action-lawsuit-plnt
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.
According to the complaint, defendants provided 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.
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 withdrew its long-term three-year growth algorithm it had introduced just six months prior. Planet Fitness attributed these results to an over-pivoted marketing campaign that failed to resonate with its core customer base, alongside external competition, macroeconomic, and weather related impacts. Management then announced they were pausing the planned national rollout of the Black Card price increase to prioritize revitalizing new membership growth.
Following this news, the price of Planet Fitness’ common stock declined dramatically. From a closing market price of $63.96 per share on May 6, 2026, Planet Fitness’ stock price fell to $44.01 per share on May 7, 2026, a decline of about 31.19% in the span of just a single day.
“Our firm is committed to ensuring that investors receive full compensation for losses caused by corporate misrepresentations,” said Joseph E. Levi, a partner at Levi & Korsinsky. “We encourage PLNT shareholders to step forward before the September 14, 2026 deadline so we can pursue justice on their behalf.”
If you suffered a loss in PLNT common stock, you have until September 14, 2026 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
