Our firm is investigating potential clams on behalf of investors in Tivity Health, Inc. On February 20, 2020, Tivity (NASDAQ: TVTY) reported 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%.

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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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Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.

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