NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Teladoc Health, Inc. ("Teladoc" or the "Company") (NYSE: TDOC) of a class action securities lawsuit.
CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Teladoc investors who were adversely affected by alleged securities fraud between November 2, 2022 and February 20, 2024. Follow the link below to get more information and be contacted by a member of our team:
https://zlk.com/pslra-1/teladoc-health-inc-lawsuit-submission-form?prid=90730&wire=3
TDOC investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) Teladoc continued to expand its marketing spend throughout 2023, despite public assurances that it would pull back its advertising spending; (2) increased marketing spend on BetterHelp, a Company division and online counseling service, deteriorated Teladoc's revenue, with little return for that investment; (3) 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 (4) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
WHAT'S NEXT? If you suffered a loss in Teladoc during the relevant time frame, you have until July 16, 2024 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.
NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
