The Shuman Law Firm Investigates Tivity Health, Inc.
February 7, 2019
DENVER–(BUSINESS WIRE)–The
Shuman Law Firm announces that it is investigating potential
shareholder claims against certain officers and directors of Tivity
Health, Inc. (“Tivity” or the “Company”) (Nasdaq: TVTY).
Tivity provides fitness and health improvement programs in the United
States.
The Firm’s investigation concerns allegations raised in a purported
class action lawsuit filed against Tivity over alleged securities laws
violations related to the Company’s contract with UnitedHealthcare
(“UHC”). The Company’s Silversneakers program is self-described as the
“gold standard in senior fitness solutions,” and provides members with
“regular exercise… and social opportunities at more than 15,000
locations nationwide—all at no cost to them.” Silversneakers is Tivity’s
flagship product and UHC was the Company’s largest client, providing
approximately 15% of annual revenues. However, UHC announced in November
2017 that it would bring the services provided by Silversneakers in
house starting in January 2018 in 11 states. Tivity’s stock fell
approximately 33% on this news. UHC’s announcement came as a surprise to
Tivity investors, despite the fact that news stories report that the
Company’s senior executives were aware of UHC’s plan to start its own
competitor business, yet did not disclose this information to the
Company’s stockholders.
If you currently own Tivity common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free
at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
Contacts
The Shuman Law Firm
Kip B. Shuman, Esq.
Rusty E. Glenn, Esq.
One
Montgomery Street, Ste. 1800
San Francisco, CA 94104
Tel:
866.569.4531
Fax: 303.536.7849
Email: kip@shumanlawfirm.com
Email:
rusty@shumanlawfirm.com
Web:
www.shumanlawfirm.com