A securities class action has been filed against Fitness Champs Holdings Ltd. (FCHL) on behalf of all persons and entities that purchased or otherwise acquired Fitness Champs Holdings Ltd. (“FCHL” or the “Company”) securities between September 3, 2025 through September 23, 2025. This case has been filed in the USDC – SDNY.
The Complaint alleges that the Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and the true nature of the trading activity in the securities. Specifically, Defendants failed to disclose to investors that: (1) FCHL was the subject of a market manipulation and fraudulent promotion scheme involving social-media based misinformation and impersonators posing as financial professionals; (2) FCHL’s public statements and risk disclosures omitted any mention of the realized risk of fraudulent trading or market manipulation used to drive the Company’s stock price; (3) as a result, FCHL securities were at unique risk of a sustained suspension in trading by NASDAQ and severe volatility-induced decline; (4) the sole underwriter on the IPO, Bancroft, had conducted numerous microcap IPOs that suffered volatility-induced declines resulting from market manipulation schemes; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis. On September 23, 2025, the Company’s stock price collapsed 84.6% to close at $1.07 per share, down from $6.95 per share on the prior day’s close of trading.