TDOC class action alert: Robbins LLP reminds shareholders

SAN DIEGO, May 29, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of individuals and entities who purchased or otherwise acquired common stock of Teladoc Health, Inc. (NYSE: TDOC) between November 2, 2022 and February 20, 2024. Teladoc provides direct-to-consumer online healthcare services. One of Teladoc’s services is “BetterHelp,” an online mental health counseling platform. Teladoc also offers online primary care and chronic disease management services.

For more information, submit a form, email Attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The accusations: Robbins LLP is investigating allegations that Teladoc Health, Co. (TDOC) misled investors about its marketing spending and its impact on revenue

According to the complaint, Teladoc released fourth-quarter 2024 results on February 20, 2024. In the Form 10-K filed with the SEC, Teladoc disclosed its significantly increased advertising expenses, which were $668,854,000 compared to $623,536,000 in 2022, while the related investor presentation showed that BetterHelp’s revenue decreased by $1 million year-over-year and by approximately $10 million from Q3 2023 to Q4 2024. The company also disclosed that despite the increased advertising spend, BetterHelp lost members for two consecutive quarters. The related earnings call showed that revenue was flat year-over-year and decreased 3% sequentially, well below expectations. On this news, Teladoc shares fell $4.85, or over 23%, to close at $15.64 per share on February 21, 2024.

What now: You may be eligible to participate in the Teladoc Health, Inc. class action lawsuit. Shareholders who wish to serve as lead plaintiff for the class action lawsuit must file their motions with the Court by July 16, 2024. A lead plaintiff is a representative party acting on behalf of other class members and directing the litigation. You do not have to participate in the case to be eligible for compensation. If you choose not to take action, you may remain an absent class member. For more information, click here Here.

Representation is on a contingency basis. Shareholders pay neither fees nor expenses.

About Robbins LLP: Some law firms issuing press releases on this matter do not litigate securities class actions; Robbins LLP does. As a recognized leader in shareholder litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures and hold corporate executives accountable for wrongdoing since 2002. Since our founding, we have recovered more than $1 billion for shareholders.

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