Feds certify securities class action against Tivity

A federal court has certified a securities class action against Tivity Health that accuses the Franklin-based company of misleading investors about UnitedHealthcare bringing its services in-house. 

UnitedHealthcare has always been a significant client for Tivity, accounting for about 15 percent of its revenue. But in November 2017, the insurance giant announced the launch of its own fitness benefit program in 11 states. The move tanked Tivity shares more than 33 percent, undoing more than five months of gains.