A lawsuit was filed on behalf of investors in Tivity Health Inc (NASDAQ:TVTY) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 12/20/2017 -- The Shareholders Foundation announces that an investor in shares of Tivity Health Inc (NASDAQ:TVTY) filed a lawsuit over alleged violations of Federal Securities Laws by Tivity Health Inc.
Investors who purchased shares of Tivity Health Inc (NASDAQ:TVTY) should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
Franklin, TN based Tivity Health, Inc., formerly Healthways, Inc., is focused targeted population health for those aged 50 and older. Tivity Health Inc reported that its annual Total Revenue rose from $452.09 million in 2015 to $501.00 million in 2016 and that its Net Income increased from $44.01 million in 2015 to $55.59 million in 2016. Shares of Tivity Health Inc (NASDAQ:TVTY) grew from $10.25 per share in March 2016 to as high as $48.50 per share on November 6, 2017.
According to the complaint the plaintiff alleges on behalf of purchasers of Tivity Health Inc (NASDAQ:TVTY) common shares between February 24, 2017, and November 3, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 24, 2017, and November 3, 2017, the Defendants issued materially false and/or misleading statements and/or failed to disclose that Tivity Health Inc was aware that its customer United Healthcare, Inc. planned to expand its fitness benefit to seniors, that the aforementioned expansion would represent direct competition to Tivity Health's core program SilverSneaker, and that as a result of the foregoing, the Company's financial statements, as well as Defendants' statements about Tivity Health's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 6, 2017, Tivity Health, Inc. largest customer, United Healthcare, Inc., announced that it is expanding its fitness benefit to seniors on the Medicare Advantage plan. Shares of Tivity Health Inc (NASDAQ:TVTY) declined to as low as $29.95 per share on November 6, 2017.
Those who purchased shares of Tivity Health Inc (NASDAQ:TVTY) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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