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Lost Money in Tivity Health, Inc.?Tivity Health, Inc. shares plummeted over 45% after the company reported earnings and revenue that fell short of analysts' estimates for the fourth quarter, and announced that its CEO would immediately step down. Gibbs Law Group is investigating a potential Tivity Stock Class Action Lawsuit on behalf of investors who lost money in Tivity (NASDAQ: TVTY) stock. To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925. On February 20, 2020, Tivity announced disappointing fourth quarter earnings, which it largely attributed to a decrease in the company's nutrition segment. Interim CEO Robert Greczyn stated on an earnings call: "Admittedly, the Nutrition business has not worked out as well as planned since the completion of the (Nutrisystem) acquisiion in March 2019." Adjusted earnings per share was reported at 40 cents, while analysts had estimated 55 cents, and the company posted revenues of $272.8 million, missing the consensus guidance of $275 million. According to MarketWatch, this has prompted one house to downgrade the stock. Tivity also announced Donato Tramuto would step down as CEO and resign from its board, effective immediately. This follows shortly after Keira Krausz resigned as President of the Nutrition Business Unit on February 18, 2020. According to Nashville Business Journal, Tivity has experienced upheaval in its leadership since the company completed its acquisition of Nutrisystem in March 2019. Following this news, Tivity's stock price plummeted over 45% on February 20, 2020 to close at $12.50, causing significant harm to investors. What Should Tivity Investors Do? If you invested in Tivity, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Tivity has violated federal securities laws. About Gibbs Law Group Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world's largest corporations, and our attorneys have received numerous honors for their work, including "Best Lawyers in America," "Top Plaintiff Lawyers in California," "California Lawyer Attorney of the Year," "Top Class Action Attorneys Under 40," "Consumer Protection MVP," and "Top Cybersecurity/ Privacy Attorneys Under 40." This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on businesswire.com: https://www.businesswire.com/news/home/20200220005990/en/ |
