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The Beachbody Company, Inc. f.k.a. Forest Road Acquisition Corp. (NYSE: BODY, formerly NYSE: FRX) Investor Investigation over potential Wrongdoing

04-15-2022 01:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in The Beachbody Company, Inc. f.k.a. Forest Road Acquisition Corp..

An investigation on behalf of investors in The Beachbody Company, Inc. f.k.a. Forest Road Acquisition Corp..

An investigation on behalf of current long-term investors in shares of The Beachbody Company, Inc. . f.k.a. Forest Road Acquisition Corp. (NYSE: BODY, formerly NYSE: FRX) was announced over potential breaches of fiduciary duties by certain officers and directors at The Beachbody Company, Inc. . f.k.a. Forest Road Acquisition Corp.

Investors who purchased shares of The Beachbody Company, Inc. f.k.a. Forest Road Acquisition Corp. (NYSE: BODY, formerly NYSE: FRX) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of The Beachbody Company, Inc. . f.k.a. Forest Road Acquisition Corp. (NYSE: BODY, formerly NYSE: FRX)) concerning whether a series of statements by The Beachbody Company, Inc. f.k.a. Forest Road Acquisition Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Forest Road Acquisition Corp was a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

On November 30, 2020, Forest Road Acquisition Corp. announced the closing of its upsized initial public offering of 30,000,000 units at a price to the public of $10.00 per unit.

On January 13, 2021, Forest Road Acquisition Corp. announced that, commencing January 15, 2021, holders of the 30,000,000 units sold in the Company's initial public offering may elect to separately trade shares of the Company's Class A common stock and warrants included in the units

On February 10, 2021, the Beachbody Company Group, LLC announced its intention to become a public company by entering into a three-way merger agreement with Forest Road Acquisition Corp. (NYSE: FRX) and Myx Fitness Holdings, LLC, an at-home connected fitness platform featuring an industry leading bike and home studio.

On June 28, 2021, The Beachbody Company Group, LLC announced the three-way business combination with Myx Fitness Holdings, LLC and Forest Road Acquisition Corp. (was completed on June 25, 2021. The combined company was named The Beachbody Company, Inc. and its shares of Class A common stock and warrants were expected to start trading on the New York Stock Exchange ("NYSE"), June 28, 2021, under the ticker symbols "BODY" and "BODY WS," respectively.

Shares of The Beachbody Company, Inc. (NYSE: BODY) declined to as low as $1.5050 per hsare on January 24, 2022.

Those who purchased shares of The Beachbody Company, Inc. (NYSE: BODY) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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