Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Life Time Fitness, Inc. Concerning its Proposed Sale to Leonard Green & Partners and TPG.
NEW YORK, March 16, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against the Board of Directors of Life Time Fitness, Inc. ("Life Time Fitness" or the "Company") (NYSE:LTM) related to the proposed acquisition of the Company by Leonard Green & Partners and TPG. The transaction is valued at around $4 Billion or $72.10 per share in cash and stock.
This investigation concerns whether the Board of Directors of Life Time Fitness breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The investigation further seeks to determine whether senior management of Life Time are acting in their own self-interests at the expense of shareholders. Bahram Akradi, who will remain in his role as Chairman, President and CEO, has committed to make a rollover investment of $125 million in Life Time.
If you own Life Time Fitness common stock and wish to obtain additional information, please contact either Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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