ATLANTA, May 20, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Teladoc Health, Inc. (“Teladoc” or the “Company”) (NYSE: TDOC). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company, including allegations that: (a) Teladoc continued to expand its marketing spend throughout 2023, despite public assurances that it would pull back its advertising spending; (b) increased marketing spend on BetterHelp deteriorated Teladoc’s revenue, with little return for that investment; (c) despite Teladoc’s acknowledgment that increased advertising spend would be marginally inefficient due to market saturation, it continued to grow its advertising spend in the BetterHelp business; and (d) despite public statements that there remained “a long runway” for BetterHelp membership growth, BetterHelp’s membership stagnated and then decreased in 2023, due to market saturation, largely due to BetterHelp’s own marketing.
If you bought Teladoc shares between November 2, 2022 and February 20, 2024, and suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888)-508-6832 or, you may visit the firm’s website at www.holzerlaw.com/case/teladoc-health/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is July 16, 2024.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
