Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Nutrisystem, Inc. (NASDAQ: NTRI) to Tivity Health, Inc. (NASDAQ: TVTY). Under the terms of the transaction, Nutrisystem shareholders will receive $38.75 per share in cash and 0.2141 Tivity Health, Inc. shares for each share of Nutrisystem stock they own. Based on the volume-weighted average price of Tivity Health’s stock for the ten days ended December 3, 2018, the consideration represents approximately $47 per share.
The Nutrisystem merger investigation concerns whether the Board of Nutrisystem breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Tivity Health, Inc. is underpaying for Nutrisystem shares, thus unlawfully harming Nutrisystem shareholders.
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