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PLNT.US
id: 1052, Created by , Scout

Planet Fitness (PLNT) Toxic Workplace Culture Case

  • On October 25, 2023, Insider reported that former Planet Fitness (PLNT) CEO fostered a toxic workplace culture at Planet Fitness.
  • On it, $PLNT fell 1.1%, losing $52M+ of shareholder value.
  • Investors may have grounds to suspect members of Planet Fitness’s BoD or senior management of breach of their fiduciary duties to Planet Fitness, which led to their losses.
On October 25, 2023, Insider reported that former Planet Fitness CEO Chris Rondeau fostered a toxic workplace culture at Planet Fitness, including encouraging drinking at the workplace, and requiring employees to withdraw cash from his personal accounts for travel.

On this news, $PLNT fell 1.1% and lost over $52 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect Planet Fitness BoD or senior management of breach of their fiduciary duties to the Company, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
25 October 2023
Collecting participants…

Planet Fitness Inc

Planet Fitness, Inc., together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned...

    Ticker
    PLNT.US
    ISIN
    US72703H1014
    CIK
    1637207
    Sector
    Consumer Cyclical
    Industry
    Leisure
    Country
    USA
    Address
    4 Liberty Lane West, Hampton, NH, United States, 03842