The Law Offices of Frank R. Cruz reminds investors of the upcoming April 27, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of Tivity Health, Inc. ("Tivity" or the "Company") (NASDAQ: TVTY) investors who purchased securities between March 8, 2019 and February 19, 2020 inclusive (the "Class Period").
If you are a shareholder who suffered a loss, click here to participate.
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 as much as $10.43, or over 45%, 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) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased or otherwise acquired Tivity securities during the Class Period, you may move the Court no later than April 27, 2020 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to firstname.lastname@example.org, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.