LIFEMD, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Southern Dist...

NEW YORK, April 23, 2021 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of investors that purchased LifeMD, Inc. (NASDAQ: LFMD) securities between January 19, 2021 and April 13, 2021, inclusive (the "Class Period").

All investors who purchased shares of LifeMD, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.comor (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in your investment in LifeMD, Inc., you may,no later than June 15, 2021, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of LifeMD, Inc.

CLICK HERE TO JOIN CASE

On April 14, 2021, Culper Research issued a report alleging that "LifeMD appears to use unlicensed doctors to dispense OTC medications, has implemented an auto shipping/auto billing scheme, failed to honor guarantees, and put in place abusive telemarketing practices." The report also alleged that several of the Company's executives were involved in "wide ranging fraud" at Redwood Scientific, which was charged by the U.S. Federal Trade Commission for "unlawful auto shipping, abusive telemarketing, and false claims." Specifically, according to Culper Research, "many customers are effectively duped into purchasing subscriptions rather than one-time purchases" and LifeMD "makes cancellations difficult if not impossible."

On this news, the Company's share price fell $2.84, or 24%, to close at $9.00 per share on April 14, 2021.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website.

Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com 
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP