Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Middle District of Tennessee on behalf of shareholders of Tivity Health, Inc. who purchased shares between March 8, 2019 and February 19, 2020.
Tivity and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 19, 2020, the Company announced its financial results for Q4 and YE 2019, disclosing that its “Nutrition segment had a disappointing end to 2019” including “a non-cash impairment charge of $377.1 million,” that contributed to a $272.8 million net loss in the fourth quarter, due to complications in the nutrition business since its acquisition of Nutrisystem in March 2019, and that its Chief Executive Officer had resigned.
On this news, the price of Tivity’s shares plummeted over 45%.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 27, 2020 to request that the court appoint them lead plaintiff.