Robbins Geller Rudman & Dowd LLP announces that it has filed a class action lawsuit seeking to represent purchasers or acquirers of Teleperformance SE (OTC: TLPFY) American Depositary Receipts (“ADRs”) between July 29, 2020 and November 9, 2022, inclusive (the “Class Period”). Captioned City of Warren General Employees’ Retirement System v. Teleperformance SE, No. 23-cv-0181 (D. Idaho), the Teleperformance class action lawsuit charges Teleperformance and certain of its top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff, please provide your information here:
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Teleperformance class action lawsuit must be filed with the court no later than June 20, 2023.
CASE ALLEGATIONS: Teleperformance is a provider of outsourced omnichannel customer experience management services and related digital services. Teleperformance’s services include content moderation for social media platforms, such as TikTok.
As the Teleperformance class action lawsuit alleges, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) certain Teleperformance social content moderators had been trained with materials which included illicit images of child sexual exploitation; (iii) contraband images had been included in Teleperformance Daily Required Reading reports for its content moderation staff; (iv) 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; (v) 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; (vi) Teleperformance had imposed unreasonable time and performance targets that compounded the occupational trauma suffered by its content moderators; and (vii) 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 plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud. You can view a copy of the complaint by clicking here.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Teleperformance ADRs during the Class Period to seek appointment as lead plaintiff of the Teleperformance class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Teleperformance class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Teleperformance class action lawsuit. An investor’s ability to share in any potential future recovery of the Teleperformance class action lawsuit is not dependent upon serving as lead plaintiff.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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Robbins Geller Rudman & Dowd LLP
655 W. Broadway, Suite 1900, San Diego, CA 92101
J.C. Sanchez, 800-449-4900