LOS ANGELES–(BUSINESS WIRE)–$TVTY #classaction—Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that purchased Tivity Health, Inc. (“Tivity” or the “Company”) (NASDAQ: TVTY) securities between March 8, 2019 and February 19, 2020, inclusive (the “Class Period”). Tivity investors have until April 27, 2020 to file a lead plaintiff motion.
If you suffered a loss on your Tivity investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email [email protected] or visit our website at www.glancylaw.com to learn more about your rights.
On March 8, 2019, Tivity acquired Nutrisystem, Inc. for approximately $1.3 billion (the “Nutrisystem Acquisition”).
On February 19, 2020, after the market closed, Tivity announced its fourth quarter and full year 2019 financial results in a press release. Therein, the Company reported a fourth quarter net loss of $323.1 million, a $137.1 million charge to goodwill and $240.0 million impairment charge to the Nutrisystem tradename. Tivity also announced that its Chief Executive Officer Donato Tramuto had resigned.
On this news, the Company’s stock price fell $10.43, or nearly 46%, to close at $12.50 per share on February 20, 2020, thereby injuring investors.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that, following the Nutrisystem Acquisition, Tivity’s Nutrition segment faced significant operational challenges; (2) that the foregoing would foreseeably have a significant impact on Tivity’s revenues; and (3) that, as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you purchased Tivity securities during the Class Period, you may move the Court no later than April 27, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected]lancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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