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Talkspace, Inc.

Corporate Governance / Derivative

  • Date:
  • 3/29/2022
  • Company Name:
  • Talkspace, Inc.
  • Stock Symbol:
  • TALK
  • Status:
  • Investigating

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Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Talkspace, Inc. (NASDAQ: TALK) on behalf of long-term stockholders following a class action complaint that was filed against Talkspace on January 7, 2022 with a Class Period from June 11, 2020 to November 15, 2021 or pursuant to the company’s June 17, 2021 merger. Our investigation concerns whether the board of directors of Talkspace have breached their fiduciary duties to the company.
 

The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Talkspace was experiencing significantly increased online advertising costs in its business-to-consumer ("B2C") channel since the start of 2021; (2) Talkspace was experiencing lower conversion rates in its online advertising in its B2C business; (3) Talkspace was experiencing increased customer acquisition costs and more tepid B2C demand than represented to investors; (4) Talkspace was suffering from ballooning customer acquisition costs and worsening growth and gross margin trends; (5) Talkspace had overvalued its accounts receivables from certain of its health plan clients in its business-to-business channel, which amounts required adjustment downward; and (6) as a result of the foregoing, Talkspace’s 2021 financial guidance was not achievable and lacked any reasonable basis in fact.
 

If you are a long-term stockholder of Talkspace, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra B. Raymond by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the form below. There is no cost or obligation to you.

The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Talkspace. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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