Teladoc investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Teladoc was formerly known as “Teladoc, Inc.” and changed its name to “Teladoc Health, Inc.” in August 2018. Teladoc provides telehealth services worldwide and offers a portfolio of services and solutions covering 450 medical subspecialties, such as flu and upper respiratory infections, cancer, and congestive heart failure. Teladoc provides its services through mobile devices, the Internet, video, and phone.
The Class Period commences on March 3, 2016, when Teladoc filed its Form 10-K for the fiscal year ended December 31, 2015. The Form 10-K stated, in relevant part, “[w]e depend on our senior management team, and the loss of one or more of our executive officers or key employees or an inability to attract and retain highly skilled employees could adversely affect our business.”
According to the complaint, the Southern Investigative Research Foundation (“SIRF”) published an article reporting that Teladoc had allowed violations of employment discrimination laws, sexual harassment laws, and its own corporate governance policies to take place at the company for years. Specifically, the article alleged that Mark Hirschhorn (“Hirschhorn”), the Executive Vice President (“EVP”), Chief Operating Officer (“COO”), and Chief Financial Officer (“CFO”) of Teladoc, had engaged in an affair with a low-level employee of Teladoc in Texas named Charece Griffin (“Griffin”), and that the two engaged in potentially illegal insider trading. The SIRF article cited a thorough investigation of the foregoing issues, which included interviews with at least seven former colleagues of Griffin between 2014 and the end of 2017.
Following publication of the SIRF article, Teladoc’s stock price fell $4.00, or 6.69%, to close at $55.81 on December 6, 2018.
The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Hirschhorn was engaged in an inappropriate sexual relationship with a subordinate; (ii) Hirschhorn and this subordinate engaged in insider trading to provide themselves with undue benefits; (iii) Hirschhorn caused the subordinate to receive promotions for which she was unqualified, thereby negatively impacting Teladoc’s operations; (iv) Teladoc’s enforcement of its own purported employment and trading policies were inadequate to prevent the foregoing conduct; and (v) as a result, Teladoc’s public statements were materially false and misleading at all relevant times.
If you are a member of the class described above, you may no later than February 11, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. 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 toll free at 1-888-299-7706 or 1-610-667-7706, 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.
Kessler Topaz Meltzer & Check, LLP
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Radnor, PA 19087
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