PLNT Shareholder Alert: Planet Fitness, Inc. Securities Class Action Lawsuit - Investors With Losses May Contact Levi & Korsinsky

Time-Sensitive: Black Card price increase fitness securities allegations focus on Planet Fitness' pricing rollout and three-year growth algorithm.

NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky, LLP alerts investors in Planet Fitness, Inc. (NYSE: PLNT) of a pending securities class action on behalf of shareholders who purchased securities from November 6, 2025 through May 6, 2026. Check if you might be eligible to recover your investment losses. You may also contact Joseph E. Levi, Esq. at [e-mail] or [phone].

PLNT shares declined from $63.96 to $44.01 per share on May 7, 2026, a $19.95 per-share drop, or approximately 31.19%. The Court has set September 14, 2026 as the deadline to apply for lead plaintiff appointment.

"Investors deserve transparency about material risks that could affect their investments, including pricing assumptions and long-term targets that depend on member acquisition trends. Here, the lawsuit asserts that Planet Fitness investors were not given a complete picture of risks tied to the Black Card rollout and the three-year growth algorithm." -- Joseph E. Levi, Esq.

Alleged Black Card Price Increase Fitness Securities Issue

The lawsuit asserts that Planet Fitness presented confidence in a planned national Black Card price increase to $29.99 while allegedly failing to disclose that its marketing conditions were undermining net member joins during the critical first-quarter sign-up period. As alleged, the Company’s long-term growth algorithm depended heavily on rate increases and membership volume that could not be achieved without a marketing reset.

Fitness Subscription Pricing Trends and Growth Assumptions

The action claims that the pricing narrative mattered because Planet Fitness operates an HVLP subscription model where modest changes in joins, cancellations, and tier mix can affect revenue expectations. The complaint focuses on several investor-relevant issues:

• The Black Card price increase was allegedly built into growth expectations before the Company had a sustainable marketing path to support joins.
• The three-year growth algorithm allegedly relied on a 75% rate and 25% volume mix that became difficult to sustain under weaker acquisition trends.
• Management allegedly maintained confidence in pricing and demand despite internal headwinds during the peak sign-up season.
• The Company later paused the planned Black Card rollout pending a broader pricing review.
• Planet Fitness also withdrew the long-term three-year growth algorithm introduced months earlier.

Why Pricing Adequacy Allegedly Matters to PLNT Investors

As alleged, the Black Card rollout was not a side issue. It was tied to same-club sales growth, revenue growth, adjusted EBITDA, and adjusted net income per share expectations. On May 7, 2026, Planet Fitness reduced same-club sales growth guidance from 4% to 5% to approximately 1%, lowered revenue growth expectations from approximately 9% to approximately 7%, and reduced adjusted EBITDA growth expectations from approximately 10% to approximately 6%.

Learn more about the case

ABOUT LEVI & KORSINSKY, LLP — Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report. Investors who suffered losses have until September 14, 2026 to seek appointment as lead plaintiff.

Frequently Asked Questions About the PLNT Lawsuit

Q: Who is eligible to join the PLNT investor lawsuit? A: Investors who purchased PLNT stock or securities between November 6, 2025 and May 6, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: How much did PLNT stock drop? A: Shares fell approximately 31.19%, a decline of $19.95 per share, after Planet Fitness disclosed slower net member growth, reduced 2026 guidance, withdrew its three-year growth algorithm, and paused the planned national Black Card price increase. Investors who purchased shares during the Class Period at allegedly artificially inflated prices and suffered losses may be eligible to seek compensation.

Q: What specific misstatements does the PLNT lawsuit allege? A: The complaint alleges Planet Fitness made materially false or misleading statements regarding the effectiveness of its marketing strategy, its ability to drive membership growth, the planned Black Card price increase, and its three-year growth algorithm during the Class Period. When the Company announced reduced guidance and paused the Black Card price rollout, the stock price declined sharply.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What documents should PLNT investors gather? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What if I already sold my PLNT shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate? A: There is no upfront cost to contact the firm. Securities class actions are generally handled on a pure contingency basis. No upfront fees, no retainer, and no out-of-pocket costs. Any attorneys' fees and expenses awarded to class counsel are subject to court approval.

Attorney Advertising. Prior results do not guarantee similar outcomes.