Xponential Fitness Shares Sink on CEO Suspension, USAO Probe (1)

(Adds stock move and details on halt.)

Xponential Fitness shares tumble as much as 39%, the most intraday since June, after the franchiser of boutique fitness brands said its board has removed Anthony Geisler from CEO duties and named Brenda Morris as interim CEO.

• Trading is halted at least once due to volatility
• The change comes after the company received notice on May 7 of an investigation by the United States Attorney’s Office for the Central District of California
  • Previously disclosed the SEC asked the company on Dec. 5 to provide it with “certain documents”
• Intends to continue cooperating with ...