An investigation on behalf of investors of Life Time Fitness, Inc. (NYSE:LTM) in connection with the proposed takeover was announced and NYSE:LTM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/18/2015 -- An investigation on behalf of investors, who currently hold shares of Life Time Fitness, Inc. (NYSE:LTM), was announced concerning whether the takeover of Life Time Fitness, Inc. at $72.10 per share is unfair to NYSE:LTM stockholders.
Investors who purchased shares of Life Time Fitness, Inc. (NYSE:LTM) and currently hold any of those NYSE:LTM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Life Time Fitness, Inc. breached their fiduciary duties owed to NYSE:LTM investors in connection with the proposed acquisition.
On Mar. 16, 2015 Life Time Fitness, Inc. (NYSE:LTM), along with Leonard Green & Partners and TPG announced that they have entered into a merger agreement under which affiliates of Leonard Green & Partners and TPG will acquire Life Time Fitness, Inc. (NYSE:LTM) in a transaction valued at more than $4.0 billion. Under the terms of the merger agreement the investors will acquire all of the outstanding shares of Life Time Fitness, Inc. (NYSE:LTM) common stock for $72.10 per share in cash.
However, the investigation concerns whether the offer is unfair to NYSE:LTM stockholders. More specifically, the investigation concerns whether the Life Time Fitness Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Life Time Fitness, Inc. reported that annual Total Revenue rose from over $1.01 billion in 2011 to over $1.29 billion in 2014 and that its respective Net Income increased from $92.62 million in 2011 to $114.37 million in 2014. Shares of Life Time Fitness, Inc. (NYSE:LTM) grew from $7.50 per share in March 2009 to as high as $67.35 per share on March 6, 2015.
On March 16, 2015, NYSE:LTM shares closed at $70.68 per share.
Those who are current investors in Life Time Fitness, Inc. (NYSE:LTM) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com