Fitness Champs Holdings Ltd.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Fitness Champs Holdings Ltd. (“FCHL” or the “Company”) (NASDAQ:FCHL) securities during the period of September 3, 2025 through September 23, 2025, inclusive (“the Class Period”).
The lawsuit alleges that (1) FCHL was the subject of a market manipulation and fraudulent promotion scheme involving social-media based misinformation and impersonators posing as financial professionals; (2) FCHL's public statements and risk disclosures omitted any mention of the realized risk of fraudulent trading or market manipulation used to drive the Company's stock price; (3) as a result, FCHL securities were at unique risk of a sustained suspension in trading by NASDAQ and severe volatility-induced decline; and (4) the sole underwriter on the IPO, Bancroft, had conducted numerous microcap IPOs that suffered volatility-induced declines resulting from market manipulation schemes.
The Company completed its initial public offering on September 4, 2025, selling two million ordinary shares at an offering price of $4.00 per share, raising $8M in gross proceeds
On September 23, 2025, the Company's stock price collapsed 84.6% to close at $1.07 per share, down from $6.95 per share on the prior day's close of trading. Shares of FCHL have continued to trend lower after the end of the class period and now trade below $0.40 per share.
The lawsuit alleges that (1) FCHL was the subject of a market manipulation and fraudulent promotion scheme involving social-media based misinformation and impersonators posing as financial professionals; (2) FCHL's public statements and risk disclosures omitted any mention of the realized risk of fraudulent trading or market manipulation used to drive the Company's stock price; (3) as a result, FCHL securities were at unique risk of a sustained suspension in trading by NASDAQ and severe volatility-induced decline; and (4) the sole underwriter on the IPO, Bancroft, had conducted numerous microcap IPOs that suffered volatility-induced declines resulting from market manipulation schemes.
The Company completed its initial public offering on September 4, 2025, selling two million ordinary shares at an offering price of $4.00 per share, raising $8M in gross proceeds
On September 23, 2025, the Company's stock price collapsed 84.6% to close at $1.07 per share, down from $6.95 per share on the prior day's close of trading. Shares of FCHL have continued to trend lower after the end of the class period and now trade below $0.40 per share.