NEW YORK, Jan. 14, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Xponential Fitness, Inc. (NYSE: XPOF), Carlyle Credit Income Fund (NYSE: CCIF) f/k/a Vertical Capital Income Fund (NYSE: VCIF), and Mobileye Global Inc. (NASDAQ: MBLY). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Xponential Fitness, Inc. (NYSE: XPOF)
Xponential purports to be the largest global franchisor of boutique fitness brands and went public on July 21, 2021 at $12.00 per share. On April 6, 2022, an entity affiliated with Xponential's Chairman of the Board sold 5.175M shares at $20.00 per share in a secondary offering. On February 8, 2023, Xponential's founder and CEO, Anthony Geisler, and the Chairman's entity sold 5.75 million shares at $24.50 per share in another secondary equity offering.
Before the market opened on June 27, 2023, Fuzzy Panda Research published a report Xponential Fitness (XPOF) - "Abusive Franchisor That Is A House of Cards". The report alleges Geisler, "has a long history of misleading investors and business partners….We discovered XPOF is hiding the fact that many of their brands and franchisees are struggling."
On this news, Xponential's stock price has fallen intraday $7.62 per share to $17.51, a drop of 30.3% on very heavy volume.
For more information on the Xponential investigation go to: https://bespc.com/cases/XPOF
Carlyle Credit Income Fund (NYSE: CCIF) f/k/a Vertical Capital Income Fund (NYSE: VCIF)
The Fund was a publicly listed close-end fund that invested in residential home loans. On January 12, 2023, the Fund announced it had entered into a transaction agreement with an affiliate of global investment firm Carlyle. Pursuant to the agreement, among other things, the Fund’s current investment manager (Oakline) would be replaced by Carlyle Global Credit Investment Management L.L.C., and the Fund’s investment mandate would change to invest in equity and debt tranches of collateralized loan obligations (CLOs). The transaction was subject to approval by a vote of the Fund’s shareholders and was conditioned on the Fund selling at least 95% of its legacy residential loan portfolio.
On July 11, 2023, during market hours, the Fund announced that it had sold a significant majority of its legacy loan portfolio for “aggregate proceeds lower than the book value of the combined assets…,” and as a result, the Fund had revised its NAV to $8.27 per share.
On this news, the Fund’s share price fell $1.45 per share, from a closing price on July 10, 2023 of $9.90 per share, to a closing price on July 11, 2023 of $8.45 per share, a decline of nearly 14.7% on heavy volume.
For more information on the Carlyle investigation go to: https://bespc.com/cases/CCIF
Mobileye Global Inc. (NASDAQ: MBLY)
On January 4, 2024, Mobileye warned that 2024 sales will be below estimates because of excess inventory at its customers.
On this news Mobileye stock was trading down over 25% in midday trading on January 4, 2024.
For more information on the Mobileye investigation go to: https://bespc.com/cases/MBLY
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
