NEW ORLEANS, June 21, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 5, 2022 to file lead plaintiff applications in a securities class action lawsuit against Teladoc Health, Inc. TDOC, if they purchased the Company’s securities between October 28, 2021 and April 27, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
Teladoc investors should visit us at https://claimsfiler.com/cases/nyse-tdoc/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Teladoc and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 27, 2022, the Company disclosed a host of negative financial results, including revenue of $565.4 million, below consensus estimates by $3.23 million, net loss per share of $41.58, primarily driven by a non-cash goodwill impairment charge of $6.6 billion or $41.11 per share, and revised FY 2022 revenue guidance to $2.4 – $2.5 billion and adjusted EBITDA guidance to $240 – $265 million, which the Company largely attributed to increased competition in its BetterHelp and chronic care businesses.
On this news, shares of Teladoc fell $22.48 per share, or 40.15%, to close at $33.51 per share on April 28, 2022.
The case is Schneider v. Teladoc Health, Inc., et al., No. 22-cv-04687.
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