Bronstein files Planet Fitness securities class action after guidance cut and stock drop
The proposed investor case covers purchases from November 6, 2025 to May 6, 2026 and follows Planet Fitness' May 7, 2026 disclosure of weak Q1 membership growth, reduced 2026 guidance, and a 31% share-price decline.
Bronstein, Gewirtz & Grossman, LLC said it filed a securities class action against Planet Fitness, Inc. and certain officers on behalf of investors who bought the company's securities between November 6, 2025 and May 6, 2026, while Bleichmar Fonti & Auld LLP said it is investigating potential securities fraud tied to the same events. The allegations center on whether Planet Fitness misled investors about a marketing shift toward more "fitness-minded" members that allegedly alienated its core beginner and casual gym audience, hurt first-quarter 2026 membership growth, and undermined its fiscal 2026 guidance and longer-term targets. On May 7, 2026, Planet Fitness reported disappointing Q1 2026 membership growth, cut expected 2026 revenue growth to about 7% from approximately 9%, and lowered adjusted EBITDA growth guidance to approximately 6% from roughly 10%; shares fell $19.95, or 31%, from $63.96 on May 6 to $44.01 on May 7. Investors seeking lead-plaintiff status in the filed class action have until September 14, 2026, according to Bronstein.
- securities class action: Investor lawsuit alleging violations of federal securities laws.
- lead plaintiff: Investor appointed by the court to represent the proposed class.
- adjusted EBITDA: A profit metric excluding certain costs and adjustments.