Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

TDOC Shareholder Alert: Robbins LLP Reminds Investors of Class Action Against Teladoc Health, Inc. (TDOC)

The Class: Shareholder rights law firm Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons or entities that purchased or otherwise acquired Teladoc Health, Inc. (NYSE: TDOC) securities between October 28, 2021 and April 27, 2022, for violations of the Securities Exchange Act of 1934. Teladoc provides virtual healthcare services in the U.S. and internationally through Business-to-Business and Direct-to-Consumer distribution channels.

If you would like more information about Teladoc Health, Inc.'s misconduct, click here.

What is this Case About: Teladoc Health, Inc. Misses First Quarter Financial Estimates Due to $6.6 Billion Non-Cash Goodwill Impairment Charge to Increased Competition

According to the complaint, during the class period, defendants touted itself as "the first and only company to provide a comprehensive and integrated whole person virtual healthcare solution that provides and enables care for a full spectrum of clinical conditions[.]" As recently as February 2022, Teladoc forecasted full year 2022 revenue of $2.55-$2.65 billion, and adjusted EBITDA of $330-$355 billion, on anticipated continued growth through its competitive advantages.

However, despite these projections, defendants failed to disclose that increased competition, among other factors, was negatively impacting Teladoc's BetterHelp and chronic care businesses, and the growth of those businesses was less sustainable than defendants had led investors to believe. As a result, Teladoc's revenue and adjusted EBITDA projections for full year 2022 were unrealistic.

On April 27, 2022, Teladoc announced its first quarter 2022 financial results, including revenue of $565.4 million, which missed consensus estimates by $3.23 million and "[n]et loss per share of $41.48, primarily driven by [a] non-cash goodwill impairment charge of $6.6 billion or $4.11 per share[.]" Additionally, the Company revised its full year 2022 revenue guidance to $2.4-$2.5 billion and adjusted EBITDA guidance to $240-$265 million "to reflect dynamics we are currently experiencing in the [D2C] mental health and chronic condition markets." On this news, Teladoc's stock price fell $22.48 per share, or over 40%, to close at $33.51 per share on April 28, 2022.

Next Steps: If you acquired shares of Teladoc Health, Inc. securities between October 28, 2021 and April 27, 2022, you have until August 5, 2022, to ask the court to appoint you lead plaintiff for the class. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Contact us to learn more:

Aaron Dumas

(800) 350-6003

adumas@robbinsllp.com

Shareholder Information Form

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Teladoc Health, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.