The Shuman Law Firm Investigates Tivity Health, Inc.
DENVER, CO February 6, 2019 – 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 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 email@example.com or Mr. Glenn at firstname.lastname@example.org.