Full Press Release Details
in Shareholder Suits Drop Claims Against LifeMD
voluntarily dismissed; company remains focused on growth, increasing access to healthcare via telemedicine.
YORK, May 28, 2021 - LifeMD, Inc. ("the Company") (NASDAQ: LFMD), a leading direct-to-patient telehealth
company, announced today that all shareholder suits
filed against the company have been voluntarily dismissed. The two cases - Owens v. LifeMD (Case No. 1:21-cv-03384-PAC)
and Cho v. LifeMD (Case No. 1:21-cv-04004-PAC) - were both filed in the U.S. District Court for the Southern District of
New York last month.
are pleased that these meritless class-action suits have been withdrawn. We remain laser-focused on using technology to make healthcare
more accessible and affordable for people from all walks of life," said Justin Schreiber, LifeMD's Chairman and CEO. "We
pursue our mission with transparency and integrity - always putting our patients first - and we're very proud of that."
Owens and Cho plaintiffs' law firms filed the notices of voluntary dismissal on May 18 and 19, respectively, court
Inc. is a rapidly growing direct-to-patient, telehealth company, offering cash-pay virtual medical care across all 50 states. LifeMD's
telemedicine platform enables virtual access to affordable and convenient medical treatment from licensed providers and, when appropriate,
prescription medications and over-the-counter products delivered directly to the patient's home. To learn more, visit www.LifeMD.com
Note Regarding Forward Looking Statements
news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial.
While we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable,
we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently
subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified
by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned,"
"will," "may," "intend," "estimated," and "potential," among others. Important factors
that could cause actual results to differ materially from the forward-looking statements we make in this news release include market
conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange
Commission. All forward-looking statements attributable to LifeMD, Inc. or a person acting on its behalf are expressly qualified in their
entirety by this cautionary language.