Tivity Health Class Action Investigation
Girard Sharp is investigating potential violations of state and federal law by Tivity Health, Inc. (NASDAQ: TVTY) in connection with its March 2019 acquisition of Nutrisystem, Inc.
The investigation centers on potential misrepresentations and omissions by Tivity Health regarding operational challenges the company reportedly faced after the Nutrisystem acquisition—a transaction valued at approximately $1.3 billion.
In February 2020, Tivity announced its quarterly earnings results for the fourth quarter of 2019, disclosing that its “Nutrition segment had a disappointing end to 2019.” More specifically, the company revealed, a “non-cash impairment charge of $(377.1) million” contributed to a net loss of $272.8 million in the fourth quarter. Tivity also announced that its CEO, Donato Tramuto, was resigning, effective immediately.
On this news, Tivity’s stock price fell $10.43 per share, or 45.49%, to close at $12.50 per share on February 20, 2020.
If you are a Tivity shareholder and believe you may have sustained investment losses, you may be entitled to compensation. Protect your rights and contact a Girard Sharp securities fraud protection attorney for a free and confidential case consultation by calling toll-free at (866) 981-4800 or by filling out the form below:
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For a free consultation about your potential claims, contact one of our investment fraud attorneys at (866) 981-4800.