RADNOR, Pa.--(BUSINESS WIRE)--The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Talkspace, Inc. (“Talkspace”) (NASDAQ: TALK) f/k/a Hudson Executive Investment Corporation (“HEIC”) (NASDAQ: HEC; HECCW; HECCU). The action charges Talkspace with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Talkspace’s materially misleading statements to the public, Talkspace investors have suffered significant losses.
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LEAD PLAINTIFF DEADLINE: March 8, 2022
CLASS PERIOD: June 11, 2020 through November 15, 2021
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
James Maro, Esq. (484) 270-1453 or Toll Free (844) 887-9500 or Email at info@ktmc.com
TALKSPACE’S ALLEGED MISCONDUCT
Talkspace is a virtual behavior healthcare company that delivers healthcare through encrypted web and mobile platforms. Specifically, the company offers treatment options for, inter alia, psychiatry or adolescent, individual, and couples therapy.
On June 17, 2021, HEIC shareholders voted to approve a merger at a special shareholder meeting where, following the consummation of the merger, HEIC changed its name to “Talkspace, Inc.”
Then, on August 9, 2021, Talkspace issued a press release announcing the company’s financial results for the second quarter of 2021 and held a conference call to discuss the results. On the call, Talkspace revealed some issues relating to increased customer acquisition costs while downplaying their impact, and confirmed a material increase in customer acquisition costs since the beginning of the year. Following this news, Talkspace’s stock price fell $1.11 per share, or 18.72%, to close at $4.82 per share on August 10, 2021.
Then, on November 15, 2021, Talkspace issued a press release announcing the company’s financial results for the third quarter of 2021, and revealing numerous company declines. Additionally, Talkspace announced that same day that its CEO as well as its Head of Clinical Services were both stepping down from their respective positions and as members of Talkspace’s Board of Directors, effective immediately. Following this news, Talkspace’s stock price fell $1.23 per share, or 36.28%, to close at $2.16 per share on December 16, 2021.
WHAT CAN I DO?
Talkspace and/or former HEIC investors may, no later than March 8, 2022 seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Talkspace investors who have suffered significant losses to contact the firm directly to acquire more information.
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WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. At the end of the day, we have succeeded if the bad guys pay up, and if you recover your assets. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
