Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Teladoc Health, Inc. (NYSE: TDOC) who purchased shares between October 28, 2021 and April 27, 2022.
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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until August 5, 2022 to request that the court appoint them lead plaintiff.