openPR Logo
Press release

Lawsuit filed for Investors in shares of Tivity Health, Inc. (NASDAQ: TVTY)

03-11-2020 03:16 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Tivity Health, Inc. (NASDAQ: TVTY) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Tivity Health, Inc. (NASDAQ: TVTY) shares over alleged securities laws violations.

An investor, who purchased shares of Tivity Health, Inc. (NASDAQ: TVTY), filed a lawsuit over alleged violations of Federal Securities Laws by Tivity Health, Inc..

Investors who purchased shares of Tivity Health, Inc. (NASDAQ: TVTY) have certain options and for certain investors are short and strict deadlines running. Deadline: April 27, 2020. NASDAQ: TVTY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 8, 2019, Tivity Health, Inc. issued a press release entitled "Tivity Health Completes Acquisition of Nutrisystem." In the press release, Tivity Health, Inc. announced the completion of the Nutrisystem Acquisition for approximately $1.3 billion in cash and stock. Tivity Health, Inc. also assured investors that "[w]ith this acquisition, Tivity Health will be unique in offering, at scale, an integrated portfolio of fitness, nutrition and social engagement solutions to support overall health and wellness." The release further described the benefits of the Nutrisystem Acquisition including "double digit accretion to Tivity Health's adjusted EPS in 2020 and beyond, . . . [s]ignificant potential for value creation with expected annual cost synergies of ~$30-35 million . . . [and] [n]ew business model with projected substantial cash flow to de-lever the balance sheet."
On May 8, 2019, Tivity Health, Inc announced its financial results for the quarter ended March 31, 2019 and therein represented that the integration of Nutrisystem into Tivity's operations was "on track."

On February 19, 2020, after the market closed, Tivity Health, Inc. 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 Health, Inc. also announced that its Chief Executive Officer Donato Tramuto had resigned. Tivity Health, Inc. disclosed, among other things, that its "Nutrition segment had a disappointing end to 2019," which included "a non-cash impairment charge of $(377.1) million," contributing to a net loss for Tivity of $272.8 million in the fourth quarter. Concurrently, Tivity announced the resignation of its CEO, Donato Tramuto. Discussing Tivity's financial results on an earnings call later that day, Tivity's interim CEO, Robert Greczyn, stated "[a]dmittedly, the nutrition business has not worked out as well as planned since the completion of the [Nutrisystem Acquisition] in March 2019."

The plaintiff claims that between March 8, 2019 and February 19, 2020, the defendants made false and/or misleading statements and/or failed to disclose that following the Nutrisystem Acquisition, Tivity's Nutrition segment faced significant operational challenges, that the foregoing would foreseeably have a significant impact on Tivity's revenues, and that as a result, Tivity's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Tivity Health, Inc. (NASDAQ: TVTY) have certain options and should contact the Shareholders Foundation.

Media 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 class actions, 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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of Tivity Health, Inc. (NASDAQ: TVTY) here

News-ID: 1962576 • Views: 1384

More Releases from Shareholders Foundation

Deadline on July 19th coming up in Lawsuit for Investors in Ubiquiti Inc. (NYSE: …
A deadline is coming up on July 19, 2021 in the lawsuit filed for certain investors of Ubiquiti Inc. (NYSE: UI) over alleged securities laws violations by Ubiquiti Inc. Investors who purchased shares of Ubiquiti Inc. (NYSE: UI) have certain options and there are strict and short deadlines running. Deadline: July 19, 2021. NYSE: UI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. According to the
Investigation announced for Long-Term Investors in Vroom, Inc. (NASDAQ: VRM)
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Vroom, Inc. Investors who are current long term investors in Vroom, Inc. (NASDAQ: VRM) shares, 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 for current long term investors in NASDAQ: VRM stocks follows a lawsuit filed against Vroom, Inc. over
Update in Lawsuit for Investors in shares of QuantumScape Corporation (NYSE: QS) …
A lawsuit is pending for certain investor in shares of QuantumScape Corporation (NYSE: QS) against QuantumScape Corporation over alleged violations of Federal Securities Laws. Investors who purchased shares of QuantumScape Corporation (NYSE: QS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. On January 4, 2021, prior to open of trading, an article was published pointing to several risks with QuantumScape’s solid
Lawsuit filed for Investors in shares of Ocugen, Inc. (NASDAQ: OCGN)
An investor, who purchased shares of Ocugen, Inc. (NASDAQ: OCGN), filed a lawsuit over alleged violations of Federal Securities Laws by Ocugen, Inc. Investors who purchased shares of Ocugen, Inc. (NASDAQ: OCGN) have certain options and for certain investors are short and strict deadlines running. Deadline: August 17, 2021. NASDAQ: OCGN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. Malvern, PA based Ocugen, Inc., a clinical-stage

All 5 Releases


More Releases for Tivity

Deadline on April 27th coming up for Investors in shares of Tivity Health, Inc. …
A deadline is coming up on April 27, 2020 in the lawsuit filed for certain investors of Tivity Health, Inc. (NASDAQ: TVTY) over alleged securities laws violations by Tivity Health, Inc. Investors who purchased shares of Tivity Health, Inc. (NASDAQ: TVTY) have certain options and there are strict and short deadlines running. Deadline: April 27, 2020. NASDAQ: TVTY stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 -
Investigation for NASDAQ: TVTY Investors announced over possible Securities Laws …
Tivity Health, Inc is under investigation over potential securities laws violations by Tivity Health, Inc. in connection with certain financial statements was announced. Investors who purchased shares of Tivity Health, Inc. (NASDAQ: TVTY), 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 whether a series of statements by Tivity Health, Inc. regarding its business, its prospects
HemiPhon takes over ownership of E-tivity Corporation
E-tivity Corporation customers to benefit from increased investment Australia, XX September, 2011 – Workforce management solutions provider E-tivity Corporation has become a fully owned subsidiary of HemiPhon PLC (FSE: H3P) following the establishment of that new parent company by E-tivity Corporation’s directors. E-tivity Corporation has been operating in Australia under various business names since the 1970s and has become one of this country’s leading developers and providers of workforce management software.