PR Newswire
NEW YORK
, Feb. 18, 2022 /PRNewswire/ — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Talkspace, Inc. f/k/a Hudson Executive Investment Corporation (NASDAQ: TALK).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/talkspace-inc-f-k-a-hudson-executive-investment-corporation-loss-submission-form/?id=23807&from=4
This lawsuit is on behalf of: (a) all persons or entities that purchased or otherwise acquired Talkspace securities between June 11, 2020 and November 15, 2021, both dates inclusive, and/or (b) all holders of Talkspace common stock as of the record date for the special meeting of shareholders held on June 17, 2021
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until March 8, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Talkspace, Inc. f/k/a Hudson Executive Investment Corporation issued materially false and/or misleading statements and/or failed to disclose that: (i) Hudson Executive Investment Corporation (“HEIC”) had overstated its competitive advantage and due diligence capabilities with respect to identifying and effectuating a merger with target companies; (ii) HEIC had conducted inadequate due diligence into then-private, pre-Merger Talkspace, or else ignored and/or failed to disclose multiple red flags concerning then-private, pre-Merger Talkspace’s business and operations; (iii) Talkspace was experiencing significantly increased online advertising costs in its B2C business since the beginning of 2021; (iv) Talkspace was experiencing 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 more tepid B2C demand than represented to investors; (vi) as a result of (iii)-(v) above, Talkspace was suffering from ballooning customer acquisition costs and worsening growth and gross margin trends; (vii) Talkspace had overvalued its accounts receivables from certain of its health plan clients in its B2B business, which amounts required adjustment downward; and (viii) as a result of (iii)-(vii) above, Talkspace’s 2021 financial guidance was not achievable and lacked any reasonable basis in fact.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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New York, New York 10036
T: (212) 867-4490
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SOURCE Jakubowitz Law
