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Talkspace, Inc. Investigation 

The law firm of Kirby McInerney LLP is investigating potential claims against Talkspace, Inc. (“Talkspace” or the “Company”) (NASDAQ: TALK, TALKW). The investigation concerns whether Talkspace has violated the federal securities laws and/or engaged in 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, the Company’s share price declined by $1.23 per share, or approximately 36.3%, from $3.39 per share to close at $2.16 per share on November 16, 2021.

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