Eileen works closely with investors in securities cases and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
Tivity Health Stock Lawsuit Investigation
Stock plummets over 45% and CEO steps down after disappointing Q4
Our firm is investigating potential clams on behalf of investors in Tivity Health, Inc. On February 20, 2020, Tivityreported earnings and revenue that fell short of analysts’ estimates for the fourth quarter of 2019. The company also announced its CEO would step down, effective immediately. On this news, Tivity stock dropped over 45%.
Tivity Stock Losses?
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Tivity stock drops over 44% after weak quarterly performance and abrupt CEO departure
On February 20, 2020, Tivity announced disappointing fourth quarter results. 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 BizJournal, Tivity has experienced upheaval in its leadership since the company completed its acquisition of Nutrisystem in March 2019. Interim CEO Robert Greczyn admits:
The nutrition business has not worked out as well as planned.
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