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2023-06-29
Teladoc Faces Potential Second Class Action Lawsuit Over Misleading Investor Claims
Teladoc Health is potentially facing its second class action lawsuit from investors, accusing the company of making false statements about its marketing expenditures, particularly concerning its mental health service, BetterHelp. The lawsuit alleges Teladoc continued to increase marketing spending despite acknowledging market saturation, leading to revenue decline and a significant drop in stock price. Filed in the U.S. District Court for the Southern District of New York, the lawsuit names former CEO Jason Gorevic and CFO-turned-acting-CEO Mala Murthy as defendants.
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