Life Time Fitness Investors Can't Bring Back PE Buyout Suit

Law360, New York (January 31, 2018, 7:34 PM EST) -- A Minnesota federal judge on Tuesday said a group of Life Time Fitness Inc. investors cannot revive their lawsuit over the company’s 2015 private equity buyout, finding that the shareholders are unable to pinpoint any new information that could alter the court’s initial decision.

U.S. District Judge John R. Tunheim said Matthew Lusk and the St. Clair County Employees’ Retirement System are not allowed to file a new complaint in their case against Life Time CEO Bahram Akradi and the company’s board of directors because they failed to identify any new evidence discovered after judgment had been entered in the case. ...

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