Energy News / Shareholders Foundation, Inc.

Life Time Fitness, Inc. (NYSE:LTM) Investor Alert: Lawsuit in Effort to Halt the Acquisition

Via: ReleaseWire

Updated 7:15 AM CDT, Tue, April 14,2015

A lawsuit was filed by an investor in shares of Life Time Fitness, Inc. (NYSE:LTM) in effort to stop the proposed takeover and NYSE:LTM stockholders should contact the Shareholders Foundation.

San Diego, CA -- (ReleaseWire) -- 04/14/2015 -- An investor, who currently holds shares of Life Time Fitness, Inc. (NYSE:LTM), filed a lawsuit in effort to stop the proposed takeover of Life Time Fitness, Inc. at $72.10 per share.

Investors who purchased shares of Life Time Fitness, Inc. (NYSE:LTM) and currently hold any of those NYSE:LTM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:LTM stockholders by agreeing to sell Life Time Fitness, Inc.. too cheaply via an unfair process.

On Mar. 16, 2015 Life Time Fitness, Inc. (NYSE:LTM), along with Leonard Green & Partners and TPG announced that they have entered into a merger agreement under which affiliates of Leonard Green & Partners and TPG will acquire Life Time Fitness, Inc. (NYSE:LTM) in a transaction valued at more than $4.0 billion. Under the terms of the merger agreement the investors will acquire all of the outstanding shares of Life Time Fitness, Inc. (NYSE:LTM) common stock for $72.10 per share in cash.

However, the plaintiff claims that the proposed consideration NYSE:LTM shareholders will receive is grossly inadequate and undervalues Life Time Fitness, Inc. Life Time Fitness, Inc. reported that annual Total Revenue rose from over $1.01 billion in 2011 to over $1.29 billion in 2014 and that its respective Net Income increased from $92.62 million in 2011 to $114.37 million in 2014. Shares of Life Time Fitness, Inc. (NYSE:LTM) grew from $7.50 per share in March 2009 to as high as $67.35 per share on March 6, 2015. In addition, the plaintiff claims that the process is also unfair to NYSE:LTM stockholders.

On April 10, 2015, NYSE:LTM shares closed at $71.40 per share.

Those who are current investors in Life Time Fitness, Inc. (NYSE:LTM) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.releasewire.com/press-releases/life-time-fitness-inc-nyseltm-investor-alert-lawsuit-in-effort-to-halt-the-acquisition-591831.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com