Planet Fitness, Inc. faces securities class-action allegations that it misled investors about customer acquisition, marketing effectiveness, membership growth and its ability to meet fiscal 2026 and long-term targets. Faruqi & Faruqi, LLP said the complaint alleges that updated marketing messaging failed to resonate with and intimidated fitness beginners and casual gym-goers, creating a significant headwind for net member joins during the peak first-quarter sign-up period. On May 7, 2026, Planet Fitness cut same-store growth guidance from 4%-5% to 1%, withdrew its long-term three-year growth algorithm and paused the planned national rollout of a Black Card price increase. Existing disclosures also reported reductions in revenue growth expectations from approximately 9% to approximately 7% and adjusted EBITDA growth expectations from approximately 10% to approximately 6%. PLNT fell $19.95, or 31.19%, to close at $44.01 on May 7. The proposed class covers investors who purchased or acquired Planet Fitness common stock between Nov. 6, 2025, and May 6, 2026. Investors have until Sept. 14, 2026, to seek appointment as lead plaintiff, although they may participate in any recovery without taking that role. The case was filed in the United States District Court for the District of New Hampshire.