LOS ANGELES, Jan. 21, 2022 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.
Bright Health Group, Inc. (NYSE: BHG)
Class Period: June 24, 2021 – November 10, 2021
Lead Plaintiff Deadline: March 7, 2022
The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Bright Health had overstated its post-IPO business and financial prospects; (2) the Company was ill-equipped to handle the impact of COVID-19-related costs; (3) the Company was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives; (4) all the foregoing was reasonably likely to have a material negative impact on Bright Health's business and financial condition; and (5) as a result, Defendants' positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Talis Biomedical Corporation (NASDAQ: TLIS)
Class Period: February 2021 IPO
Lead Plaintiff Deadline: March 8, 2022
The complaint filed in this class action alleges that the Registration Statement was false and misleading and omitted to state material adverse facts. Specifically, Defendants failed to disclose to investors: (1) that the comparator assay in the primary study lacked sufficient sensitivity to support Talis’s EUA application for Talis One COVID-19 test; (2) that, as a result, Talis was reasonably likely to experience delays in obtaining regulatory approval for the Talis One COVID-19 test; (3) that, as a result, the Company’s commercialization timeline would be significantly delayed; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
First Solar, Inc. (NASDAQ: FSLR)
Class Period: February 22, 2019 – February 20, 2020
Lead Plaintiff Deadline: March 8, 2022
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company’s Series 6 solar module was not commercially ready at the time of its release, had a component that was failing in the field and causing fires, was not able to hit its projected and touted wattage targets, had an inconsistent output, and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Talkspace, Inc. (NASDAQ: TALK, TALKW)
Class Period: Held common stock on June 17, 2021
Lead Plaintiff Deadline: March 8, 2022
The complaint filed alleges that the proxy statement was materially misleading because it failed to disclose to investors 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.
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To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
