||Teladoc Health, Inc.
||United States District Court for the Southern District of New York
||The Hon. Gregory Howard Woods III
||between March 3, 2016, and December 5, 2018
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.
The complaint alleged that, throughout the class period, the defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Teladoc's Chief Financial Officer (“CFO”) was engaged in an inappropriate sexual relationship with a subordinate; (ii) the CFO and this subordinate engaged in insider trading to provide themselves with undue benefits; (iii) the CFO caused the subordinate to receive promotions for which she was unqualified, thereby negatively impacting the Company’s operations; (iv) the Company’s enforcement of its own purported employment and trading policies were inadequate to prevent the foregoing conduct; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
This is a federal securities class action on behalf of those who purchased or otherwise acquired Teladoc securities between March 3, 2016, and December 5, 2018, inclusive.
Current Status of Case:
On June 25, 2019, the lead plaintiffs filed a second amended consolidated complaint. On September 13, 2019, the defendants filed a motion to dismiss the second amended consolidated complaint. On November 30, 2020, the Court granted the defendants’ motion to dismiss the action without prejudice and with leave for lead plaintiffs to amend their complaint.
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: James Maro, Esq. (484-270-1453) or Adrienne Bell, Esq. (484-270-1435); toll-free at (844) 887-9500; or via e-mail at firstname.lastname@example.org. 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.