Tivity Health Must Face Investor Claims Over Nutrisystem Merger – Bloomberg Law

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July 30, 2021, 8:05 PM

Tivity Health Inc. investors who say the wellness-program operator omitted an $8.3 million loss from its financial statements after a merger with Nutrisystem Inc. got greenlighted to proceed with a securities suit, according to Tennessee federal court ruling.

Lead Plaintiff Sheet Metal Workers Local No. 33 and other investors adequately alleged that Tivity’s statements about the success of the acquisition were misleading and material, Judge Waverly D. Crenshaw Jr. said Thursday for the U.S. District Court for the Middle District of Tennessee. They also sufficiently alleged that Tivity executives knew about the diet products section’s poor performance in the year …

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