NEW YORK, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Talkspace, Inc. (“Talkspace” or the “Company”) (NASDAQ: TALK) and certain of its officers, on behalf of shareholders who purchased Talkspace common stock on May 19, 2021 entitled to vote at the special meeting of shareholders in connection with the merger between Talkspace and Hudson Executive Investment Corporation (“HEIC”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/talk.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.
The Complaint alleges that the Defendants issued a materially false and misleading final proxy statement for the Merger which urged the shareholders to vote in favor of the deal. Specifically, the Proxy misrepresented Talkspace's business, financials, and prospects, by omitting, that: (1) Talkspace was experiencing significantly increased online advertising costs in its B2C business since the start of 2021; (2) Talkspace was experiencing lower conversion rates in its online advertising in its B2C business; (3) Talkspace was experiencing increased customer acquisition costs and more tepid B2C demand than represented to investors; (4) Talkspace was suffering from ballooning customer acquisition costs and worsening growth and gross margin trends; (5) Talkspace had overvalued its accounts receivables from certain of its health plan clients in its B2B business, which amounts required adjustment downward; and (6) as a result of (1)-(5) above, Talkspace's 2021 financial guidance was not achievable and lacked any reasonable basis in fact.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/talk or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Talkspace you have until March 8, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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 Yael Nathanson
212-697-6484 | info@bgandg.com
