Planet Fitness, Inc. NYSE: PLNT

A class action lawsuit was filed on behalf of purchasers of Planet Fitness, Inc. (NYSE: PLNT) securities during the period from November 6, 2025 to May 6, 2026 (the "Class Period").

The complaint alleges that defendants disseminated materially false and misleading statements and omissions concerning the true state of Planet Fitness' customer acquisition and marketing metrics. Planet Fitness had expressed confidence that its “We Are All Strong on This Planet” marketing campaign was resonating and had “legs to extend into 2026,” reaffirmed a planned national price increase for its Black Card premium membership to $29.99, and reaffirmed its fiscal year 2026 guidance and a new three-year growth plan — while concealing that its updated marketing had actually pivoted toward fitness-minded consumers and was alienating its core target demographic of fitness beginners and casual gym-goers, causing a significant headwind in net member joins during its peak first-quarter sign-up period that rendered its guidance and long-term targets unachievable.

On May 7, 2026, Planet Fitness announced financial results for the first quarter of 2026, revealing that its critical peak sign-up period was off to a slower-than-expected start. The company cut full-year 2026 growth guidance, reducing projected same-store growth from 4–5% to 1%, and withdrew the long-term three-year growth algorithm it had introduced six months prior, attributing the results to marketing that failed to resonate with its core customer base, alongside competitive, macroeconomic, and weather-related impacts. Planet Fitness also paused the planned national rollout of the Black Card price increase to prioritize revitalizing new membership growth. On this news, Planet Fitness shares declined by $19.95 per share, or over 31%, from $63.96 on May 6, 2026 to close at $44.01 on May 7, 2026.