Investigation announced for Long-Term Investors in shares of LifeMD, Inc. (NASDAQ: LFMD)

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of LifeMD, Inc.

Investors who are current long term investors in LifeMD, Inc. (NASDAQ: LFMD) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for investors in NASDAQ: LFMD stocks follows a lawsuit filed against LifeMD, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: LFMD stocks, concerns whether certain LifeMD, directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that 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.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

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.

This release was published on openPR.