Tivity Health, Inc. (Nasdaq: TVTY)

The complaint charges Tivity Health and certain of its officers with violations of the Securities Exchange Act of 1934. Tivity Health is a fitness program provider focused on health for people aged 50 and older. The Company operates three main programs: SilverSneakers senior fitness, Prime fitness and WholeHealth Living.

The complaint alleges that throughout the Class Period, defendants issued materially false and misleading statements and/or failed to disclose adverse information regarding Tivity Health’s business and prospects, including that Tivity Health was aware that one of its customers, United Healthcare, Inc., was planning to expand its fitness benefits to seniors, which would represent direct competition to Tivity Health’s core SilverSneakers program. As a result of defendants’ false statements and/or omissions, Tivity Health securities traded at artificially inflated prices during the Class Period, with its stock reaching a high of more than $48 per share.

Then on November 6, 2017, United Healthcare announced that it was expanding its fitness benefits and would soon “offer access to exercise classes, workout equipment and social activities at participating fitness locations.” On this news, the price of Tivity Health’s stock declined $16.45 per share, or more than 34%, to close at $31.60 per share on November 6, 2017.

If you are a current shareholder and purchased stock between February 24, 2017 to November 3, 2017, and would like to discuss your options of exercising your rights as a shareholder, please contact us.

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