Teladoc Health, Inc. (NYSE: TDOC) Investor Securities Class Action Lawsuit 12/12/2018

If you purchased a significant amount of shares of Teladoc Health, Inc. (NYSE: TDOC) between March 3, 2016 and December 5, 2018, and / or if you purchased any NYSE: TDOC shares prior to March 2016 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: February 11, 2019. NYSE: TDOC investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Teladoc Health
Case Name: 
Teladoc Health Shareholder Class Action Lawsuit 12/12/2018
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: TDOC
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/12/2018
Class Period Begin: 
03/03/2016
Class Period End: 
12/05/2018
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
02/11/2019
Summary: 

An investor in shares of Teladoc Health, Inc. (NYSE: TDOC) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Teladoc Health, Inc. in connection with certain allegedly false and misleading statements made between March 3, 2016 and December 5, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Teladoc Health, Inc. (NYSE: TDOC) common shares between March 3, 2016 and December 5, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 3, 2016 and December 5, 2018, the Defendants made false and/or misleading statements and/or failed to disclose that Hirschhorn was engaged in an inappropriate sexual relationship with a subordinate, that Hirschhorn and this subordinate engaged in insider trading to provide themselves with undue benefits, that Hirschhorn caused the subordinate to receive promotions for which she was unqualified, thereby negatively impacting the Company’s operations, that the Company’s enforcement of its own purported employment and trading policies were inadequate to prevent the foregoing conduct, and that as a result, the Company’s public statements were materially false and misleading at all relevant times

Purchased, NY based Teladoc Health, Inc. provides telehealth services worldwide. Teladoc Health, Inc. reported that its annual Total Revenue rose from $123.15 million in 2016 to $233.27 million in 2017 and that its Net Loss increased from $74.21 million in 2016 to $106.78 million in 2017.

Shares of Teladoc Health, Inc. (NYSE: TDOC) reached as high as $86.65 per share in September 2018.

On December 5, 2018, an article was published reporting that Teladoc’s CFO, Hirschhorn, had engaged “in an affair with . . . an employee many levels below him on the company’s organizational chart.” The 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 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.”

Shares of Teladoc Health, Inc. (NYSE: TDOC) declined to $53.71 per share on December 6, 2018.