Nutrisystem, Inc. (NASDAQ: NTRI) Investor Lawsuit Filed To Halt The Takeover

Investors who purchased shares of Nutrisystem, Inc. (NASDAQ: NTRI) and currently hold any of those NASDAQ: NTRI shares have certain options and should contact the Shareholders Foundation, Inc.

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Company Name(s): 
NutriSystem
Case Name: 
NutriSystem Deal Case
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: NTRI
Summary: 

An investor, who currently holds shares of Nutrisystem, Inc. (NASDAQ: NTRI), in effort to stop the proposed takeover and Nutrisystem, Inc.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: NTRI stockholders by agreeing to sell Nutrisystem, Inc. too cheaply via an unfair process.

Fort Washington, PA based Nutrisystem, Inc., together with its subsidiaries, provides weight management products and services for women and men in the United States.
On December 10, 2018, Tivity Health, Inc. (Nasdaq: TVTY) and Nutrisystem, Inc. (Nasdaq: NTRI) announced that they have entered into an agreement under which Tivity Health will acquire all of the outstanding shares of Nutrisystem for a combination of cash and stock. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Nutrisystem shareholders will receive $38.75 per share in cash and 0.2141 Tivity Health shares for each share of Nutrisystem common stock, or a value of approximately $47.00 per NASDAQ: NTRI share.

However, plaintiff claims that the proposed consideration NASDAQ: NTRI shareholders will receive is grossly inadequate and undervalues Nutrisystem, Inc. Indeed, at least one analyst has set the high target price for NASDAQ: NTRI shares at $48.00 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ: NTRI stockholders
.

Shares of Nutrisystem, Inc. (NASDAQ: NTRI) closed on December 17, 2018, at $43.89 per share.