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NEW YORK, Feb. 09, 2022 (GLOBE NEWSWIRE) — National investment fraud lawyers KlaymanToskes (“KT”) is investigating individual securities arbitration claims on behalf of investors who sustained losses in holding concentrated positions in Talkspace, Inc. (NASDAQ: TALK) through full-service brokerage firms. Talkspace’s opening day stock price was listed at $8.90, but recent prices hover between $1.60 and $1.70 per share, which is 80% below the price shareholders would have received had they redeemed their shares instead of approving a merger with special purpose acquisition company (“SPAC”) Hudson Executive Investment Corporation (“HEIC”) in 2021.
Although a Class Action Lawsuit was recently filed against Talkspace, investors should strongly consider exploring all of their legal options. Full-service brokerage firms whose customers hold large concentrated stock positions, especially in companies resulting from SPACs, have a duty to ensure that their customers understand the risks associated with concentration, and to disclose and recommend the availability of risk management strategies which can be used to protect the value of the concentrated portfolio.
According to securities attorney Lawrence L. Klayman, Esq., “Brokerage firms are required to perform due diligence prior to recommending SPACs and their resulting companies like Talkspace to their customers, and the failure to do so may result in liability.” Both CitiGroup Global Markets, Inc. and J.P. Morgan Securities, LLC acted as underwriters for the HEIC offering, and the SPAC later merged with Talkspace in 2021.
The sole purpose of this release is to investigate the sales practices of full-service brokerage firms and their financial advisors in connection with Talkspace. In furtherance of our investigation, KT encourages investors who lost in excess of $250,000, and those who have information relating to the handling of their accounts, to contact securities attorney Lawrence L. Klayman, Esq. at (561) 542-5131, and download our Special Report.
About KlaymanToskes
KT is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KT has recovered more than $225 million for investors in FINRA arbitrations. KT has office locations in California, Florida, New York, and Puerto Rico.
Destination: https://klaymantoskes.com/talkspace-investment-loss-recovery/
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Lawrence L. Klayman, Esq.
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