According to the Complaint, MINDBODY, Inc. is a provider of cloud-based business management software for the wellness services industry, e.g., salons and spas, and a rapidly growing marketplace for wellness services. The Company offers integrated software and payment platforms to help wellness business owners run, market, and build their businesses, while engaging consumers by aggregating available classes and appointments, and enabling rapid discovery, booking and payment. The Company conducted its initial public offering in June 2015.

The Complaint alleges that during the Class Period, Defendants misstated and/or omitted material information concerning MINDBODY’s financial results.

On November 7, 2019, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Co-Lead Plaintiffs filed an amended Complaint on December 20. Defendants filed a Motion to Dismiss the amended Complaint on February 18, 2020. On September 25, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On August 18, 2021, Co-Lead Plaintiffs filed a second amended Complaint.

The parties entered into a Stipulation and Agreement of Settlement on March 3, 2022. On June 3, the Court granted preliminary approval of the Settlement. On October 27, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.