SAN DIEGO, May 20, 2024 (GLOBE NEWSWIRE) — Robbins LLP notifies investors that a shareholder represents individuals and entities purchasing or otherwise acquiring shares of Teladoc (NYSE:) Health, Inc. (NYSE: TDOC) The class action lawsuit was filed between November 2, 2022, and February 20, 2024. One of Teladoc’s services is BetterHelp, an online mental health counseling platform. Teladoc also provides online primary care and chronic disease management services.
For more information, submit a form, email attorney Aaron Dumas, Jr., or call us at (800) 350-6003.
Allegation: Robbins LLP is investigating allegations that Teladoc Health, Co. (TDOC) misled investors about marketing spending and its impact on revenue
The complaint states that on February 20, 2024, Teladoc released its fourth quarter 2024 financial report. In a Form 10-K filed with the SEC, Teladoc disclosed a significant increase in its advertising costs, from $623,536,000 to $668,854,000 in 2022, while a related investor presentation revealed that BetterHelp revenue fell by $1 million compared to the previous year U.S. dollars, falling approximately from the third quarter of 2023 to the fourth quarter of 2024 to $10 million. The company also revealed that BetterHelp has lost members for two consecutive quarters despite increased ad spending. The relevant financial report conference call revealed that revenue was the same as the previous year, a quarterly decrease of 3%, which was far lower than expected. Affected by this news, Teladoc’s stock price fell by $4.85, or more than 23%, to a closing price of $15.64 per share on February 21, 2024.
What should we do now: You may be eligible to participate in a class action lawsuit against Teladoc Health, Inc. Other class members direct the litigation. You do not have to be involved in the case to be eligible for compensation. If you choose to take no action, you may remain absent from the Class Membership.For more information please click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins Law Firm: Some law firms that issued press releases on the matter did not actually file securities class action lawsuits; Robbins Law Firm did. As a recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been helping shareholders recover losses, improve corporate governance structures and hold corporate executives accountable for misconduct since 2002. More than $1 billion in compensation for shareholders.
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