Lawsuit filed for Investors who lost money with shares of Teladoc Health, Inc. (NYSE: TDOC)

An investor, who purchased shares of Teladoc Health, Inc. (NYSE: TDOC), filed a lawsuit over alleged violations of Federal Securities Laws by Teladoc Health, Inc. 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: July 16, 2024. NYSE: TDOC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Purchase, NY based Teladoc Health, Inc. provides virtual healthcare services worldwide.

On February 20, 2024, Teladoc Health, Inc. announced its fourth quarter and full year results for the period ended December 31, 2023. Teladoc Health, Inc. reported that its annual Total Revenue rose from over $2.4 billion in 2022 to over $2.6 billion in 2023, and that its Net Loss declined from over $13.65 billion in 2022 to $220.36 million in 2023. However, the announcement disclosed that Teladoc Health, Inc had experienced substantially less growth than previous forecasted. The Company also disclosed that it was expecting decreased revenue for its BetterHelp segment, an online counseling service. Analysts attributed this trend to BetterHelp's market saturation and increased advertising costs causing a rise the cost of customer acquisitions.

Shares of Teladoc Health, Inc. (NYSE: TDOC) declined from $22.54 per share on January 02, 2024, to as low as $11.22 per share on May 28, 2024.

The plaintiff claims that between November 2, 2022 and February 20, 2024, the defendants made false and/or misleading statements and/or failed to disclose that Teladoc continued to expand its marketing spend throughout 2023, despite public assurances that it would pull back its advertising spending, that increased marketing spend on BetterHelp deteriorated Teladoc's revenue, with little return for that investment, that 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 that 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.

Those who purchased shares of Teladoc Health, Inc. (NYSE: TDOC) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.