© Reuters Planet Health tumbles after The Bear Cave says it is an ‘unlawful billing operation with gyms on the aspect’
By Sam Boughedda
Shares of Planet Health (NYSE: ) tumbled Thursday after The Bear Cave, a analysis publication, launched a report on the health club franchise that mentioned the corporate had been profiting from clients.
The publication says that whereas many buyers consider Planet Health has room to develop, “The Bear Cave shouldn’t be.”
They are saying that by way of a number of Freedom of Info Act requests, it has uncovered a whole lot of client complaints about overbilling, fraudulent transactions, extreme charges, and memberships that can not be canceled.
There’s a sample of dangerous conduct, admit TBC. It’s mentioned to incorporate facets corresponding to Planet Health ignoring a number of buyer cancellation letters, private cancellation makes an attempt being ignored, billing persevering with after cancellation, false expenses, and the corporate stopping clients from canceling as a result of they owe again balances.
Moreover, they declare Planet Health made a false investor presentation slide to “full franchisee clear.”
“After reviewing the proof, The Bear Cave is left questioning if Planet Health is definitely a thriving health club franchise or an unlawful billing operation with a health club on the aspect,” the publication learn.
Shares of Planet Health are down about 3.3% on the time of writing.