( MENAFN - GlobeNewsWire - Nasdaq) NEW YORK, June 03, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Teladoc Health, Inc.
(“Teladoc” or the“Company”) (NYSE: TDOC ) securities during the period of November 2, 2022 through February 20, 2024, inclusive (“the Class Period”). Investors have until July 16, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit. [Click here to learn more about the class action ] On February 20, 2024, Teladoc announced its fourth quarter 2024 and full year 2023 results on its Form 10-K and quarterly earnings call.
The announcement disclosed that Teladoc had experienced substantially less growth than previously forecasted. The Company also disclosed that it was expecting decreased revenue for its BetterHelp segment, an online counseling service, despite reporting a substantial increase in advertising and marketing costs. Specifically, Teladoc revealed that BetterHelp lost members for two consecutive quarters and that BetterHelp revenue fell $1 million compared to the year prior and fell about $10 million from the third quarter of 2023 to the fourth quarter of 2023.
On the earnings call, the CEO of Teladoc stated the Company's revenue was flat compared to the prior year and down 3% sequentially – well below expectations. Analysts attributed this tre.
