Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against Tivity Health, Inc. (NASDAQ:TVTY) (“Tivity” or the “Company”) and certain of its officers, related to alleged violations of federal securities laws. If you purchased shares of Tivity between February 24, 2017 and November 3, 2017, you are encouraged to a contact a Scott+Scott attorney at (844) 818-6980 for additional information.
Tivity, formerly Healthways, Inc., offers fitness programs, health benefits management, physical therapy, and other related services and is specifically focused on those aged 50 and older. The Company offers three programs: SilverSneakers senior fitness, Prime Fitness and WholeHealth Living. The SilverSneakers senior fitness program is offered to members of Medicare Advantage, Medicare Supplement, and Group Retiree plans.
The complaint alleges that Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Tivity was aware that its customer UnitedHealthcare, Inc. planned to expand its fitness benefit to seniors; (2) the abovementioned expansion would represent direct competition to Tivity’s core program SilverSneakers; and (3) consequently, Tivity’s financial statements, as well as statements about the Company’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 6, 2017, UnitedHealthcare, Inc. announced the expansion of its fitness benefits. On this news, Tivity Health’s stock price declined $16.45, or 34%.
What You Can Do
If you purchased Tivity Health securities between February 24, 2017 and November 3, 2017, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at rswartz@scott-scott.com. Investors have until January 19, 2018, to move for lead plaintiff.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180116006491/en/
Contacts:
Rhiana Swartz, (844) 818-6980
rswartz@scott-scott.com
