| COMPANY |
Teladoc Health, Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
18-cv-11603 |
| JUDGE |
The Hon. Gregory Howard Woods III |
| CLASS PERIOD |
March 3, 2016 - December 5, 2018 |
| SECURITY TYPE |
All Securities |
Case Background:
On December 12, 2018, the initial complaint in this securities class action was filed against Teladoc Health, Inc. ("Teladoc" or the “Company”), and certain of Teladoc’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all persons and entities who purchased or acquired Teladoc securities between March 3, 2016, and December 5, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Teladoc's CFO was engaged in an inappropriate sexual relationship with a subordinate; (2) the CFO and this subordinate engaged in insider trading to provide themselves with undue benefits; (3) the CFO caused the subordinate to receive promotions for which she was unqualified, thereby negatively impacting the Company’s operations; (4) the Company’s enforcement of its own purported employment and trading policies were inadequate to prevent the foregoing conduct; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
On June 25, 2019, Lead Plaintiffs filed a second amended consolidated complaint (the “Amended Complaint”). On September 13, 2019, Defendants filed a Motion to Dismiss the Amended Complaint. On September 29, 2021, the Court granted Defendants’ Motion to Dismiss and ordered that the case be closed. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.