The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Teladoc Health, Inc. (NYSE: TDOC) who purchased shares between October 28, 2021 and April 27, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Teladoc lawsuit alleges that (i) increased competition, among other factors, was negatively impacting TDOC’s BetterHelp and chronic care businesses; (ii) accordingly, the growth of those businesses was less sustainable than Defendants had led investors to believe; (iii) as a result, TDOC’s revenue and adjusted EBITDA projections for FY 2022 were unrealistic; (iv) as a result of all the foregoing, TDOC would be forced to recognize a significant non-cash goodwill impairment charge; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until August 5, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.