A lawsuit was filed on behalf of investors in Teladoc Health, Inc. (NYSE:TDOC) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 06/20/2022 -- An investor, who purchased shares of Teladoc Health, Inc. (NYSE: TDOC), filed a lawsuit against Teladoc Health, Inc. over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Teladoc Health, Inc. (NYSE: TDOC) have certain options and for certain investors are short and strict deadlines running. Deadline: August 5, 2022. NYSE: TDOC investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Purchase NY based Teladoc Health, Inc. provides virtual healthcare services in the United States and internationally through Business-to-Business and Direct-to-Consumer ("D2C") distribution channels. Teladoc Health, Inc describes itself as "the first and only company to provide a comprehensive and integrated whole person virtual healthcare solution that both provides and enables care for a full spectrum of clinical conditions[.]"
In February 2022, Teladoc Health, Inc. forecasted full year ("FY") 2022 revenue of $2.55 - $2.65 billion, as well as adjusted earnings before interest, taxes, depreciation, and amortization ("EBITDA") of $330 - $355 million, on anticipated continued growth through its competitive advantages.
On April 27, 2022, Teladoc Health, Inc. reported financial results for the three months ended March 31, 2022, including revenue of $565.4 million, which missed consensus estimates by $3.23 million, and "[n]et loss per share of $41.58, primarily driven by [a] non-cash goodwill impairment charge of $6.6 billion or $41.11 per share[.]". Additionally, Teladoc Health, Inc revised its FY 2022 revenue guidance to $2.4 - $2.5 billion and adjusted EBITDA guidance to $240 - $265 million "to reflect dynamics we are currently experiencing in the [D2C] mental health and chronic condition markets."
Shares of Teladoc Health, Inc. (NYSE: TDOC) declined from $77.50 per share on April 4, 2022, to as low as $27.86 per share on June 14, 2022.
The plaintiff claims that between October 28, 2021 and April 27, 2022, the Defendants made false and/or misleading statements and/or failed to disclose that increased competition, among other factors, was negatively impacting Teladoc's BetterHelp and chronic care businesses, that accordingly, the growth of those businesses was less sustainable than Defendants had led investors to believe, that as a result, Teladoc's revenue and adjusted EBITDA projections for FY 2022 were unrealistic, that as a result of all the foregoing, Teladoc would be forced to recognize a significant non-cash goodwill impairment charge, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Teladoc Health, Inc. (NYSE: TDOC) have certain options and should contact the Shareholders Foundation.
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