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    LFMD   US53216B1044

LIFEMD, INC.

(LFMD)
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SHAREHOLDER ALERT: Robbins LLP Reminds Investors That LifeMD, Inc. (LFMD) f/k/a Conversion Labs, Inc. (CVLB) is Being Sued for Misleading Shareholders

05/06/2021 | 01:34pm EDT

Shareholder rights law firm Robbins LLP reminds investors that a purchaser of LifeMD f/k/a Conversion Labs, Inc. (NASDAQ: LFMD) filed a class action complaint against the Company and its officers and directors for alleged violations of the Securities Exchange Act of 1934 between January 19, 2021 and April 13, 2021. LifeMD is direct-to-patient telehealth company that purports to help patients access licensed providers for diagnose, virtual care, and prescription medications.

If you suffered a loss in excess of $100,000 due to LifeMD, Inc.'s misconduct, click here.

LifeMD, Inc. (LFMD) Misled Investors Regarding its Business Operations

According to the complaint, throughout the class period, defendants made false and/or misleading statements regarding its business. Specifically, defendants failed to disclose that: (1) many of its 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; (2) LifeMD engaged in autoshipping products to unwilling customers to record recurring revenue and the Company made it difficult to cancel such subscriptions; (3) certain of the purportedly licensed physicians on the Company’s platform were not in fact licensed and faced disciplinary action; (4) as a result of the foregoing practices, the Company was reasonably likely to face regulatory scrutiny and/or reputational harm; and (5) 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.

On April 14, 2021, Culper Research issued a report alleging that "LifeMD appears to use unlicensed doctors to dispense OTC medications, has implemented an autoshipping/autobilling 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 prior to joining LifeMD, which was charged by the U.S. Federal Trade Commission for "unlawful autoshipping, abusive telemarketing, and false claims." On this news, the Company's share price fell 24% to close at $9.00 per share on April 14, 2021.

If you purchased shares of LifeMD, Inc. (LFMD) f/k/a Conversion Las, Inc. (CVLB) between January 19, 2021 and April 13, 2021, you have until June 15, 2021, to ask the court to appoint you lead plaintiff for the class. If you would like more information regarding your rights, please contact Lauren Levi at (800) 350-6003 or llevi@robbinsllp.com, or via our Shareholder Information Form.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Robbins LLP is a nationally recognized leader in shareholder rights law. To be notified if a class action against LifeMD, Inc. settles or to receive free alerts about companies engaged in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.


ę Business Wire 2021
All news about LIFEMD, INC.
10/26LifeMD to Release Third Quarter 2021 Financial Results on Wednesday, November 10, 2021
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10/04LIFEMD : Announces Launch of Public Offering of Common Stock (Form 8-K)
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10/04LIFEMD, INC. : Entry into a Material Definitive Agreement, Material Modification to Rights..
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10/04LIFEMD : Announces Closing of Public Offering 1,400,000 Shares of 8.875% Series A Cumulati..
GL
10/04LifeMD Announces Closing of Public Offering 1,400,000 Shares of 8.875% Series A Cumulat..
GL
10/04LifeMD Announces Closing of Public Offering of Common Stock and Exercise of the Underwr..
GL
10/04LIFEMD : Announces Closing of Public Offering of Common Stock and Exercise of the Underwri..
GL
09/30LIFEMD : Announces Pricing of Public Offering 1,400,000 Shares of 8.875% Series A Cumulati..
AQ
09/29AFTER HOURS WATCH LIST SCORECARD : Govx, lcid, lfmd
MT
09/29Health Care Stocks Easing Slightly From Intra-Day Highs Near Close
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More news
Analyst Recommendations on LIFEMD, INC.
More recommendations
Financials (USD)
Sales 2021 95,8 M - -
Net income 2021 -60,4 M - -
Net Debt 2021 - - -
P/E ratio 2021 -2,30x
Yield 2021 -
Capitalization 151 M 151 M -
Capi. / Sales 2021 1,58x
Capi. / Sales 2022 1,05x
Nbr of Employees 56
Free-Float 66,8%
Chart LIFEMD, INC.
Duration : Period :
LifeMD, Inc. Technical Analysis Chart | LFMD | US53216B1044 | MarketScreener
Technical analysis trends LIFEMD, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 2
Last Close Price 4,95 $
Average target price 23,00 $
Spread / Average Target 365%
EPS Revisions
Managers and Directors
Justin Schreiber Chairman & Chief Executive Officer
Alexander Mironov President
Marc Benathen Chief Financial Officer
Joseph V. DiTrolio Independent Director & Chief Medical Officer-US
Stefan Galluppi Director & Chief Technology Officer
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