Talkspace, Inc.

(NASDAQ GS: TALK)

Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Talkspace, Inc. ("Talkspace" or the "Company") on behalf of stockholders. A class action complaint has been filed against Talkspace. The complaint alleges that defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Hudson Executive Investment Corporation ("HEIC") overstated its competitive advantage and due diligence capabilities with respect to identifying and effectuating a merger with target companies; (ii) HEIC conducted inadequate due diligence into then private, pre-merger Talkspace, or else ignored and/or failed to disclose multiple red flags concerning then-private, pre-merger Talkspace's business and operations; (iii) Talkspace was experiencing significantly increased online advertising costs in its B2C business since the beginning of 2021; (iv) Talkspace was experiencing lower conversion rates in its online advertising in its B2C business; (v) as a result, Talkspace was experiencing increased customer acquisition costs and more tepid B2C demand than represented to investors; (vi) as a result, Talkspace was suffering from ballooning customer acquisition costs and worsening growth and gross margin trends; (vii) Talkspace overvalued its accounts receivables from certain of its health plan clients in its B2B business, which amounts required adjustment downward; and (viii) as a result, Talkspace's 2021 financial guidance was not achievable and lacked any reasonable basis in fact.

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Date of signing: 04/19/2024

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