NEW YORK, April 19, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of LifeMD, Inc. ("LifeMD" or the "Company") (NASDAQ: LFMD). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether LifeMD and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 14, 2021, Culper Research ("Culper") published a short report addressing LifeMD. The Culper report alleges, among other things, that the Company appears to use unlicensed doctors to dispense OTC medications and that several LifeMD executives, including the Company's Chief Executive Officer, had concealed their involvement in Redwood Scientific Technologies, Inc., a company that the Federal Trade Commission charged with "wide-ranging fraud" in 2018.
On this news, LifeMD's stock price fell sharply during intraday trading on April 14, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP