NEW YORK, Nov. 25, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Talkspace, Inc. ("Talkspace" or the "Company") (NASDAQ: TALK). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Talkspace and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 15, 2021, post-market, Talkspace issued a press release "announc[ing] . . . that its co-founder and CEO, Oren Frank, has decided to step down from his position as CEO and Board member of Talkspace, effective today." Shortly thereafter on the same day, Talkspace issued a press release reporting its financial results for the third quarter of 2021. Among other items, Talkspace disclosed that its net revenue for the quarter "came in below management expectations due to a lower number of B2C [business-to-consumer] customers and a one-time non-cash reserve adjustment for credit losses on receivables related to prior periods."
On this news, Talkspace's stock price fell $1.23 per share, or 36.28%, to close at $2.16 per share on November 16, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP