The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Planet Fitness, Inc. (“Planet Fitness” or the “Company”) (NYSE: PLNT) common stock between November 6, 2025 and May 6, 2026, inclusive (“the Class Period”).

If you suffered a loss on your Planet Fitness investments, you have until September 14, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. If you choose to take no action, you may remain an absent class member. For more information about the lawsuit:

[CONTACT THE FIRM IF YOU SUFFERED A LOSS]

What Is This Lawsuit About? The lawsuit alleges that Planet Fitness provided positive statements to investors that its “We Are All Strong on This Planet” marketing campaign was resonating and had “legs to extend into 2026,” expressed confidence in 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 material adverse facts concerning the true state of Planet Fitness’ customer acquisition. Specifically, the Company’s marketing had pivoted toward fitness-minded consumers and was alienating its core target demographic of fitness beginners and casual gym-goers. As a result, Planet Fitness was experiencing a significant headwind in net member joins during its peak first-quarter sign-up period that rendered its previously issued fiscal 2026 guidance and long-term financial 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 internally. The Company cut full-year 2026 growth guidance, cutting same-store growth from 4-5% to 1%, and withdrew the long-term three-year growth algorithm it had introduced six months prior, attributing these results to marketing that failed to resonate with its core customer base, alongside external competition, macroeconomic, and weather-related impacts. The Company also announced it was pausing the planned national rollout of the Black Card price increase to prioritize revitalizing new membership growth. On this news, the price of Planet Fitness shares declined by $19.95 per share, or over 31%, from $63.96 per share on May 6, 2025 to close at $44.01 on May 7, 2026.

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The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Learn more about the lead plaintiff process and eligibility requirements here. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.

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What Should I Do? If you purchased or otherwise acquired Planet Fitness securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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