A securities class action has been filed against Planet Fitness, Inc. (PLNT) on behalf of all investors who purchased or otherwise acquired Planet Fitness common stock between November 6, 2025 through May 6, 2026. This case has been filed in the USDC – NH.
Planet Fitness is a large franchisor and operator of fitness centers across the United States. The company aims to offer a fitness experience in a non-intimidating environment, which it calls the Judgement Free Zone.
On May 7, 2026, Planet Fitness released its Q1 2026 financial results. The company announced disappointing membership growth and cut 2026 revenue growth guidance from approximately 9% to about 7% and adjusted EBITDA growth guidance from roughly 10% to approximately 6%. During the same-day earnings call, the company stated that its marketing “may have pivoted too far” as the company “shift[ed] from [its] lighthearted approachable tone” to one that “increased penetration with the fitness-minded.”
This news caused the price of Planet Fitness stock to decline $19.95 per share, or 31%, from a closing price of $63.96 per share on May 6, 2026, to $44.01 per share on May 7, 2026.