NEW ORLEANS, April 26, 2019 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Tivity Health, Inc. (TVTY).
On November 6, 2017, a press release issued by United Healthcare ("UHC"), one of the Company's most important health plan customers and the second largest in terms of revenue in 2016, announced the expansion of its fitness benefits to customers in 11 states, at no additional cost, through a program that would compete directly with Tivity's flagship fitness product, which contradicted prior statements made by the Company regarding the status of its ongoing relationship with UHC.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court presiding over the case denied the Company's motion to dismiss in part, allowing the case to move forward.
KSF's investigation is focusing on whether Tivity's officers and/or directors breached their fiduciary duties to Tivity's shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Tivity shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-tvty/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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