Wolf Haldenstein Adler Freeman & Herz LLP announces that it has filed a class action lawsuit against Fitness Champs Holdings Ltd (NASDAQ: FCHL)

NEW YORK, April 23, 2026 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP  reminds investors that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Lim Yen Nee v. Fitness Champs Holdings Ltd, et.al, Case 1:26-cv-03182, on behalf of persons and entities that purchased or otherwise acquired Fitness Champs Holdings Ltd ("FCHL" or the "Company") (NASDAQ: FCHL) securities between September 3, 2025, and September 23, 2025, inclusive (the "Class Period").

Plaintiff pursues claims against FCHL, its executives Joyce Lee Jue Hui, Koh Yong Mong, Teoh Siew Thim, Bancroft Capital LLC, and Onestop Assurance PAC, as well as unidentified John Does 1-100, (the "Defendants"), under the Securities Exchange Act of 1934.

Investors are hereby notified that they have until June 16, 2026, to move the Court to serve as lead plaintiff in this action.

You may obtain a copy of the complaint and submit your contact information on our website. Or you may call our New York office directly: 1-212-545-4774.

The Company conducts its purported business operations in Singapore through two wholly owned subsidiaries: Fitness Champs PTE LTD and Fitness Champs Aquatics PTE LTD. FCHL purports on its website to be "a distinguished sports education provider, playing a pivotal role in shaping the aquatic landscape in Singapore." 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 (the "IPO").

Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and the true nature of the trading activity in the securities. Specifically, Defendants failed to disclose to investors 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; (4) the sole underwriter on the IPO, Bancroft, had conducted numerous microcap IPOs that suffered volatility-induced declines resulting from market manipulation schemes; and (5) as a result of the foregoing, Defendants' positive statements about the Company's business, operations and prospects were materially misleading and/or lacked a reasonable basis.

This case arises from the sudden collapse of FCHL's stock price on September 23, 2025, due to a fraudulent market manipulation scheme that caused the Company's stock price to trade as high $7.20 per share on September 19, 2025, despite no fundamental news to justify such a spike in the Company's stock price. Investigation and public reports have revealed that FCHL was a vehicle utilized in a market manipulation and "pump-and-dump" promotional scheme. Impersonators acting as financial advisors touted FCHL in online forums, chat groups, and social media posts, with baseless claims to create a buying frenzy amongst retail investors.

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.

Why Wolf Haldenstein Adler Freeman & Herz LLP?

This illustrious firm, founded in 1888, is steadfast in their pursuit of justice for investors who have suffered financial harm due to these misrepresented statements. The law firm brings to the fore over 125 years of legal expertise in securities litigation and has a proven track record of protecting the rights of investors.

We encourage all investors who have been affected or have information that will assist in our investigation, to contact Wolf Haldenstein Adler Freeman & Herz LLP.

Contact:

• Phone: 1 (800) 575-0735 or 1 (212) 545-4774
• Whats App: 1 (929) 606-5406 (direct)
• Email: [email protected]
• Contact Person: Gregory Stone, Director of Case and Financial Analysis

Case Website: Wolf Haldenstein Adler Freeman & Herz LLP

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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP