TDOC) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed against Teladoc Health, Inc. (NYSE: TDOC)

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Have you lost money on your investments in Teladoc Health? If so, please visit Teladoc Health, Inc. Shareholder Class Action or contact Pierre Allocco at (212) 951-2030 Where [email protected] to discuss your rights.

NEW YORK, June 7, 2022 /PRNewswire/ — Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Teladoc Health, Inc. (“Teladoc” or the “Company”) (NYSE: TDOC) between October 28, 2021 and April 27, 2022, inclusive (the “Class Period”). The lawsuit was filed in United States District Court for the Southern District of New York and alleges violations of the Securities Exchange Act of 1934.

Teladoc provides virtual healthcare services in the United States and internationally through business-to-business (“B2B”) and direct-to-consumer (“D2C”) distribution channels. The Company offers its customers various virtual products and services addressing, among other medical issues, mental health through its BetterHelp D2C product, and chronic diseases.

Teladoc bills itself as “the first and only company to provide a comprehensive, integrated whole-person virtual healthcare solution that both delivers and enables care for a full spectrum of clinical conditions.[.]”Despite recent market concerns about new entrants in telehealth, such as Amazon.com, Inc. (“Amazon”) and Walmart Inc. (“Walmart”), the Company has continued to provide investors the dominant position of the Company on the industry market.

Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period. Specifically, Plaintiff alleges that Defendants failed to disclose that: (i) increased competition, among other factors, negatively impacted BetterHelp and Teladoc’s chronic care businesses; (ii) the growth of these companies was less sustainable than the defendants had led investors to believe; (iii) as a result, Teladoc’s fiscal year 2022 revenue and Adjusted EBITDA projections were unrealistic; and (iv) as a result of all of the above, Teladoc would be required to recognize a significant non-cash goodwill impairment charge.

On April 27, 2022Teladoc announced its first quarter (“Q1”) 2022 financial results, including revenue of $565.4 millionwho missed the consensus estimates of $3.23 millionand “[n]and loss per share of $41.58mainly motivated by [a] non-cash goodwill impairment of $6.6 billion Where $41.11 per share[.]“In addition, the company has revised its fiscal 2022 revenue guidance to $2.4$2.5 billion and the adjusted EBITDA forecast at $240$265 million “to reflect the dynamic that we are currently experiencing in the [D2C] mental health and chronic disease markets.” In a conference call with investors and analysts that day to discuss Teladoc’s first quarter 2022 results, defendants largely attributed the company’s poor performance, the revised guidance for fiscal year 2022 and $6.6 billion non-cash goodwill impairment charge to increase competition in its BetterHelp and chronic care businesses.

On this news, the Company’s share price fell more than 40% to close at $33.51 per share on April 28, 2022.

If you wish to act as the main plaintiff, you must apply to the court no later than August 5, 2022. A lead plaintiff is a representative party acting on behalf of the other class members to direct the litigation. Your ability to participate in any recovery does not require you to serve as the primary plaintiff. If you choose to do nothing, you can remain an absent member of the group.

If you have purchased TDOC securities and/or wish to discuss your legal rights and options please visit Teladoc Health, Inc. Shareholder Class Action or contact Pierre Allocco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its customers. In addition to representing individual investors, the firm has been retained by some of the nation’s largest public and private pension funds to oversee their assets and bring lawsuits on their behalf. As a result of its success in hundreds of lawsuits and class actions, the firm has been named to the National Law Journal’s “List of Plaintiffs” thirteen times and listed in The Legal 500 for ten consecutive years.

LAWYER ADVERTISING. © 2022 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Past results do not guarantee or predict a similar outcome with respect to any future matter.

Contact information:

Pierre Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
[email protected]

SOURCE Bernstein Liebhard LLP

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