A deadline is coming up on June 15, 2021 in the lawsuit filed for certain investors of LifeMD, Inc. (NASDAQ: LFMD) over alleged securities laws violations by LifeMD, Inc.
Investors who purchased shares of LifeMD, Inc. (NASDAQ: LFMD) have certain options and there are strict and short deadlines running. Deadline: June 15, 2021. NASDAQ: LFMD stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of LifeMD, Inc. (NASDAQ: LFMD) common shares between January 19, 2021 and April 13, 2021, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 19, 2021 and April 13, 2021, the defendants failed to disclose to investors that many of LifeMD’s executives were associated with Redwood Scientific when it was charged for unlawful autoshipping, abusive telemarketing, and false claims, and that they employed similar practices at the Company, that LifeMD engaged in autoshipping products to unwilling customers to record recurring revenue and the Company made it difficult to cancel such subscriptions, that certain of the purportedly licensed physicians on the Company’s platform were not in fact licensed and faced disciplinary action, that, as a result of the foregoing practices, the Company was reasonably likely to face regulatory scrutiny and/or reputational harm, and 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.
Those who purchased shares of LifeMD, Inc. (NASDAQ: LFMD) have certain options and should contact the Shareholders Foundation.
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.