TELADOC DEADLINE ALERT: Bragar Eagel & Squire, PC reminds investors that a class action lawsuit has been filed against Teladoc Health, Inc. and encourages investors to contact the company

NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed against Teladoc Health, Inc. (“Teladoc” or the ” Company”) (NYSE: TDOC) in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired Teladoc securities between October 28, 2021 and April 27 2022, both dates inclusive (the “Class Period”). Investors have until August 5, 2022 to ask the court to be named lead plaintiff in the lawsuit.

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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, Inc. (“Amazon”) and Walmart Inc. (“Walmart”), the Company has continued to provide investors the dominant position of the Company on the industry market.

In fact, as recently as February 2022, Teladoc forecast 2022 full year (“FY”) revenue of $2.55 billion to $2.65 billion, along with adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $330 to $355 million. , on the pursuit of anticipated growth thanks to its competitive advantages.

Throughout the Class Period, the Defendants have made materially false and misleading statements regarding the company’s business, operations and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) increased competition, among other factors, was negatively impacting BetterHelp and Teladoc’s chronic care businesses; (ii) as a result, 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; (iv) as a result of all of the foregoing, Teladoc would be required to recognize a significant non-cash goodwill impairment charge; and (v) as a result, the Company’s public statements were materially false and misleading at all material times.

On April 27, 2022, Teladoc announced its first quarter (“Q1”) 2022 financial results, including revenue of $565.4 million, which missed consensus estimates by $3.23 million, and “[n]and loss per share of $41.58, mainly attributable to [a] non-cash goodwill impairment charge of $6.6 billion or $41.11 per share[.]”In addition, the company has revised its fiscal 2022 revenue guidance to $2.4 – $2.5 billion and its adjusted EBITDA guidance to $240 – $265 million” to reflect the momentum we are experiencing. currently 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, revised guidance for fiscal year 2022 and a charge. non-cash goodwill impairment of $6.6 billion to increased competition in its BetterHelp and chronic care businesses.

On this news, Teladoc’s stock price fell $22.48 per share, or 40.15%, to close at $33.51 per share on April 28, 2022.

If you have purchased or otherwise acquired Teladoc stock and suffered a loss, are a long-term shareholder, have information, want to know more about such claims, or have questions about this announcement or your rights or interests in these questions, please contact Brandon Walker or Melissa Fortunato by email at [email protected], by phone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation for you.

About Bragar Eagel & Squire, PC:

Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation before state and federal courts across the country. For more company information, please visit Lawyer advertisement. Prior results do not guarantee similar results.

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