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Lawsuit filed for Investors in shares of Teleperformance SE (OTC: TLPFY)

04-27-2023 05:28 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Teleperformance SE (OTC: TLPFY) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Teleperformance SE (OTC: TLPFY) shares over alleged securities laws violations.

An investor, who purchased shares of Teleperformance SE (OTC: TLPFY), filed a lawsuit over alleged violations of Federal Securities Laws by Teleperformance SE in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Teleperformance SE (OTC: TLPFY) have certain options and for certain investors are short and strict deadlines running. Deadline: June 20, 2023. OTC: TLPFY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

France based Teleperformance SE, together with its subsidiaries, engages in the provision of outsourced customer and citizen experience management, and related services in France and internationally.

On August 4, 2022, Forbes published an article alleging that Teleperformance SE had subjected its workers to poor working conditions, using real, graphic images and videos of child sexual abuse to train its TikTok content moderators, while "conversations with former employees reveal[ed] the extent to which moderators were both under-trained and overworked."

Then, on November 9, 2022, Time reported that "Colombia's Ministry of Labor has launched an investigation into TikTok subcontractor Teleperformance, relating to alleged union-busting, traumatic working conditions and low pay."

Then, on March 22, 2023, four months after the Company "unanimously" decided to exit the "highly egregious" content moderation business, Teleperformance announced that it would be reentering the field. Market analysts observed that the move was an indication of the Company's overall business and growth prospects. One HSBC Global Research analyst report stated that the "U-turn on content moderation raises concerns about communication, governance and broad fundamentals."

Shares of Teleperformance SE (OTC: TLPFY) declined from $182.47 per share in April 2022 to as low as $95.75 per share on April 26, 2023.

The plaintiff claims that between July 29, 2020 and November 9, 2022, the defendants made false and/or misleading statements and/or failed to disclose that Teleperformance's growth in Core Services and Digital Integrated Business Services, which included content moderation services, had been achieved, in part, by requiring its content moderators to engage in inappropriate, traumatic, abusive, and potentially criminal activities, that certain Teleperformance social content moderators had been trained with materials which included illicit images of child sexual exploitation, that contraband images had been included in Teleperformance Daily Required Reading reports for its content moderation staff, that Teleperformance had failed to safeguard child sexual abuse material and had potentially violated strict rules governing the handling of such materials, including rules relating to the National Center for Missing & Exploited Children, that Teleperformance had failed to provide adequate training or emotional and psychological support to content moderators exposed to egregious materials, including those exposed to extreme graphic violence and sexual images, that Teleperformance had imposed unreasonable time and performance targets that compounded the occupational trauma suffered by its content moderators, and that Teleperformance had failed to implement or maintain the working conditions represented to investors, including by subjecting Teleperformance's content moderation workers to widespread occupational trauma without psychological support, and with paltry pay, punitive salary deductions, extensive surveillance, and aggressive union-busting tactics.

Those who purchased shares of Teleperformance SE (OTC: TLPFY) 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.

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