NEW YORK, May 13, 2023 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Teleperformance SE (“Teleperformance” or the “Company”) (OTC: TLPFY) and reminds investors of the June 20, 2023 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $100,000 investing in Teleperformance stock or options between July 29, 2020 and November 9, 2022 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330
(Ext. 1310) . You may also click here for additional information: .
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) 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; (2)
certain Teleperformance social content moderators had been trained with materials which included illicit images of child sexual exploitation; (3) contraband images had been included in Teleperformance Daily Required Reading reports for its content moderation staff; (4) 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; (5) 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; (6) Teleperformance had imposed unreasonable time and performance targets that compounded the occupational trauma suffered by its content moderators; and (7) 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.
On August 4, 2022, Forbes published an article entitled “TikTok Moderators Are Being Trained Using Graphic Images Of Child Sexual Abuse,” revealing that Teleperformance had subjected its workers to unconscionable working conditions, including being “shown uncensored, sexually explicit images of children.” On this news, the price of Teleperformance ADRs fell by nearly 5%.
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.” On this news, the price of Teleperformance ADRs declined nearly 19%, further damaging investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Teleperformance conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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