Life Time Fitness Escapes Investor Suit Over $2.8B Buyout

Law360, New York (August 7, 2017, 12:45 PM EDT) -- A Minnesota federal judge on Sunday threw out the remaining claim in a proposed class action by investors over Life Time Fitness Inc.'s $2.8 billion private equity buyout in 2015, saying the shareholders can't prove the company's CEO and directors acted in their own self-interest by approving the deal.

U.S. District Judge John R. Tunheim rejected assertions by the shareholders that the board of directors for Life Time breached their a fiduciary duty by agreeing to the transaction, finding that the management team members — who all held stock in the company — would be subject to the same terms and...

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