Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Talkspace, Inc. (NasdaqGS: TALK).
On November 15, 2021, the Company disclosed a host of negative information including
“increased…allowance for credit losses on receivables by $3.4 million, of which $2.8 million related to prior quarters”; a decline in gross profit to $14.2 million in the third quarter, compared to $15.1 million in the prior year quarter; a decline in gross margin to 54% compared to 70% the prior year; and, that Chief Executive Officer Oren Frank was stepping down from his position, effective immediately.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether Talkspace’s officers and/or directors breached their fiduciary duties to the Company’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Talkspace shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.