NEW YORK, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Tivity Health, Inc. (NASDAQ: TVTY) on behalf of long-term stockholders following a class action complaint that was filed against Tivity on February 25, 2020 with a Class Period from March 3, 2019 to February 19, 2020. Our investigation concerns whether the board of directors of Tivity have breached their fiduciary duties to the company.
According to the complaint, defendants made false and misleading statements regarding Tivity’s acquisition of Nutrisystem for $1.3 billion. On February 19, 2020, Tivity announced its financial results for the fourth quarter and year ended December 31, 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. The company also announced that its Chief Executive Officer had resigned. In September of 2020, the company announced the resignation of co-founder Daniel G. Tully from its Board of Directors. Then, in October of 2020, it was reported that the company would be selling Nutrisystem for $575 million, less than half of what Tivity paid to buy it.
If you are a long-term stockholder of Tivity, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra B. Raymond by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
