INVESTOR REMINDER

Kessler Topaz Meltzer & Check, LLP Announces Deadline in Securities Fraud Class Action Lawsuit Filed Against Tivity Health, Inc.

The law firm of Kessler Topaz Meltzer & Check, LLP reminds Tivity Health, Inc. (Nasdaq: TVTY) (“Tivity”) investors that a securities fraud class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Tivity securities between March 8, 2019 and February 19, 2020, inclusive (the “Class Period”).

REMINDER: Investors who purchased or otherwise acquired Tivity securities during the Class Period may, no later than April 27, 2020, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please click https://www.ktmc.com/tivity-health-securities-class-action?utm_source= ....

According to the complaint, Tivity provides fitness and health improvement programs in the United States. Tivity was formerly known as Healthways, Inc. and changed its name to Tivity Health, Inc. in January 2017. In December 2018, Tivity announced that it would acquire Nutrisystem, Inc. (“Nutrisystem”), a provider of weight management products and services (the “Nutrisystem Acquisition”).

The Class Period commences on March 8, 2019, when Tivity issued a press release entitled “Tivity Health Completes Acquisition of Nutrisystem.” In the press release, Tivity announced the completion of the Nutrisystem Acquisition for approximately $1.3 billion in cash and stock. Tivity also assured investors that “[w]ith this acquisition, Tivity Health will be unique in offering, at scale, an integrated portfolio of fitness, nutrition and social engagement solutions to support overall health and wellness.” The release further described the benefits of the Nutrisystem Acquisition including “double digit accretion to Tivity Health’s adjusted EPS in 2020 and beyond, . . . [s]ignificant potential for value creation with expected annual cost synergies of ~$30-35 million . . . [and] [n]ew business model with projected substantial cash flow to de-lever the balance sheet.”

On May 8, 2019, Tivity issued a press release announcing its financial results for the quarter ended March 31, 2019 and therein represented that the integration of Nutrisystem into Tivity’s operations was “on track.”

Then, on February 19, 2020, post-market, Tivity issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2019. Tivity disclosed, among other things, that its “Nutrition segment had a disappointing end to 2019,” which included “a non-cash impairment charge of $(377.1) million,” contributing to a net loss for Tivity of $272.8 million in the fourth quarter. Concurrently, Tivity announced the resignation of its CEO, Donato Tramuto. Discussing Tivity’s financial results on an earnings call later that day, Tivity’s interim CEO, Robert Greczyn, stated “[a]dmittedly, the nutrition business has not worked out as well as planned since the completion of the [Nutrisystem Acquisition] in March 2019.”