NEW ORLEANS, July 12, 2022 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 5, 2022 to file lead plaintiff applications in a securities class action lawsuit against Teladoc Health, Inc. TDOC, if they purchased the Company's securities between October 28, 2021 and April 27, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of Teladoc as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-tdoc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 5, 2022.
About the Lawsuit
Teladoc and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 27, 2022, the Company disclosed a host of negative financial results, including revenue of $565.4 million, below consensus estimates by $3.23 million, net loss per share of $41.58, primarily driven by a non-cash goodwill impairment charge of $6.6 billion or $41.11 per share, and revised FY 2022 revenue guidance to $2.4 - $2.5 billion and adjusted EBITDA guidance to $240 - $265 million, which the Company largely attributed to increased competition in its BetterHelp and chronic care businesses.
On this news, shares of Teladoc fell $22.48 per share, or 40.15%, to close at $33.51 per share on April 28, 2022.
The case is Schneider v. Teladoc Health, Inc., et al., No. 22-cv-04687.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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