Tivity Health is a fitness program provider focused on targeted population health for people aged 50 and older. The company operates three main programs: SilverSneakers senior fitness, Prime fitness and WholeHealth Living. The SilverSneakers program is offered to members of Medicare Advantage, Medicare Supplement, and Group Retiree plans through a fitness network comprised of approximately 16,000 locations.
According to the law firm press release, the complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Tivity Health was aware that its customer United Healthcare, Inc. planned to expand its fitness benefit to seniors, (ii) the aforementioned expansion would represent direct competition to Tivity Health’s core program SilverSneaker, and (iii) as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about Tivity Health’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On April 3, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 4. Defendants filed a Motion to Dismiss the amended Complaint on August 3. On March 18, 2019, the Court issued an Order denying Defendants' Motion to Dismiss. On April 1, Defendants filed a Motion for Reconsideration of the Order denying the Motion to Dismiss. On May 22, the Court issued an Order denying Defendants' Motion for Reconsideration.