NEW YORK, February 15, 2022 /PRNewswire/ — Klein Law Firm announces that a class action lawsuit has been filed on behalf of shareholders of Talkspace, Inc. f/k/a Hudson Executive Investment Corporation (NASDAQ: TALK) alleging that the company has violated federal securities laws.
This lawsuit is on behalf of: (a) all persons or entities who purchased or otherwise acquired Talkspace securities between June 11, 2020 and November 15, 2021both dates inclusive, and/or (b) all holders of Talkspace common stock as of the record date of the extraordinary meeting of shareholders held on June 17, 2021.
Lead Applicant Deadline: March 8, 2022
No obligation or cost to you.
Learn more about your recoverable losses in TALK:
Talkspace, Inc. f/k/a Hudson Executive Investment Corporation NEWS – TALK NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Talkspace, Inc. f/k/a Hudson Executive Investment Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) Hudson Executive Investment Corporation (“HEIC”) had overestimated its competitive advantage and due diligence capabilities with respect to identifying and effecting a merger with target companies; (ii) HEIC had conducted inadequate due diligence in the then-private Talkspace, prior to the merger, or had ignored and/or failed to disclose several red flags regarding the business and operations of the then-private Talkspace, prior to the merger; (iii) Talkspace was experiencing a significant increase in online advertising costs in its B2C business since the start of 2021; (iv) Talkspace had lower conversion rates in its online advertising in its business-to-consumer (“B2C” business); (v) as a result of (iii) and (iv) above, Talkspace was experiencing increased customer acquisition costs and weaker B2C demand than represented to investors; (vi) as a result of (iii)-(v) above, Talkspace was suffering from skyrocketing customer acquisition costs and deteriorating growth and gross margin trends; (vii) Talkspace had overstated its accounts receivable from some of its health plan customers in its B2B business, the amounts of which required downward adjustment; and (viii) due to (iii)-(vii) above, Talkspace’s financial forecast for 2021 was not achievable and lacked a reasonable basis in fact.
WHAT THIS MEANS FOR YOU AS A SHAREHOLDER: If you have suffered a loss in Talkspace, you have up to March 8, 2022 ask the court to obtain the status of principal plaintiff. Your ability to participate in any collection does not require you to serve as the lead plaintiff.
AT NO CHARGE TO YOU: If you purchased Talkspace titles during the affected period, you may be entitled to compensation without payment of any out-of-pocket costs.
HOW TO PROTECT YOUR FINANCIAL INTERESTS: For more information on the TALK trial, please contact J. Klein, Esq. by phone at 212-616-4899 or click on this link: https://www.kleinstocklaw.com/pslra-1/talkspace-inc-fka-hudson-executive-investment-corporation-loss-submission-form?id=23661&from=4
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigation involving financial fraud across the country. Klein Law Firm is a litigation firm with experience in a wide range of areas, including securities law, corporate finance and commercial litigation. Since 2011, our experienced lawyers have achieved superior results for our clients with a personalized approach. Lawyer advertisement. Prior results do not guarantee similar results.
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
New York, NY 10118
Telephone: (212) 616-4899
SOURCE Klein Law Firm