NEW YORK, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Teladoc Health Inc. ("Teladoc" or the “Company") (NYSE: TDOC) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Teladoc securities between March 3, 2016, and December 5, 2018, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/tdoc.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Hirschhorn was engaged in an inappropriate sexual relationship with a subordinate; (2) Hirschhorn and this subordinate engaged in insider trading to provide themselves with undue benefits; (3) Hirschhorn caused the subordinate to receive promotions for which she was unqualified, thereby negatively impacting the Company’s operations; (4) the Company’s enforcement of its own purported employment and trading policies were inadequate to prevent the foregoing conduct; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On December 5, 2018, the Southern Investigative Research Foundation (“SIRF”) published an article reporting that Teladoc Health’s chief financial officer, Mark Hirschhorn, had engaged “in an affair with . . . an employee many levels below him on the company’s organizational chart.” The SIRF article stated that “during their relationship, [the employee] received a series of promotions over colleagues with either more industry experience or better credentials that stunned her former colleagues.” In addition, the SIRF article reported that the employee and Hirschhorn “liked to trade Teladoc Health’s stock together,” with Hirschhorn “tell[ing] her when he thought there were good opportunities to sell some shares.” Following publication of the SIRF article, Teladoc stock dropped $4.00 per share, or 6.69%, to close at $55.81 per share on December 6, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: bgandg.com/tdoc or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Teladoc you have until February 11, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com