The lawsuit covers investors who bought PLNT shares between November 6, 2025, and May 6, 2026, with a September 14, 2026 deadline to seek lead-plaintiff status.
Planet Fitness is facing a proposed securities class action in the United States District Court for the District of New Hampshire over alleged false and misleading statements tied to its Black Card price increase, membership growth outlook, sales growth and marketing effectiveness. The case covers investors who purchased or otherwise acquired Planet Fitness common stock between November 6, 2025, and May 6, 2026, and investors have until September 14, 2026 to ask the court to appoint them lead plaintiff. The claims followed Planet Fitness’ May 7, 2026 release of Q1 2026 results, when the company reported disappointing membership growth, cut 2026 revenue growth guidance from approximately 9% to about 7%, and reduced adjusted EBITDA growth guidance from roughly 10% to approximately 6%. On the same-day earnings call, the company said its marketing "may have pivoted too far" as it "shift[ed] from [its] lighthearted approachable tone" to one that "increased penetration with the fitness-minded," and said it was "pausing the planned national Black Card price increase pending a broader pricing review." Planet Fitness shares fell $19.95, or 31%, to $44.01 on May 7, 2026 from a May 6, 2026 close of $63.96.