Class action lawsuits filed against Planet Fitness after sales forecast cut

Several law firms have announced securities class actions against Planet Fitness on behalf of investors who purchased the company’s stock between Nov. 6, 2025, and May 6, 2026. The complaints allege that Planet Fitness concealed problems with its marketing campaign, which had allegedly shifted too far toward fitness-oriented customers and alienated beginners and casual gym-goers, hurting new-member growth. On May 7, 2026, the company cut its same-store sales growth forecast from 4–5% to about 1%, withdrew its three-year growth targets, and paused a planned Black Card price increase. Planet Fitness shares fell about 31%, from $63.96 to $44.01, after the disclosure. Investors seeking lead-plaintiff status generally faced a Sept. 14, 2026, deadline, while the allegations remain unproven and a class has not yet been certified.