NEW YORK, Feb. 04, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Teladoc Health, Inc. (“Teladoc” or the “Company”) (NYSE: TDOC ) of the February 11, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Teladoc stock or options between March 3, 2016 and December 5, 2018 and would like to discuss your legal rights, click here : www.faruqilaw.com/TDOC. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26 th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Teladoc securities between March 3, 2016 and December 5, 2018 (the “Class Period”). The case, Reiner v. Teladoc Health, Inc. et al No. 18-cv-11603 was filed on December 13, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (1) Mark Hirschhorn, one of the Company’s executives, was engaged in an inappropriate sexual relationship with a subordinate; (2) Hirschhorn and this subordinate engaged in insider trading to provide themselves with undue benefits; (3) Hirschhorn 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.
Specifically, on December 5, 2018, the Southern Investigative Research Foundation (“SIRF”) reported 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. Additionally, SIRF stated that Teladoc’s CFO, Hirschhorn, had engaged “in an affair with . . . an employee many levels below him on the company’s organizational chart.”
After the publication of this article, Teladoc’s share price fell from $59.81 per share on December 4, 2018 to a closing price of $55.81 on December 6, 2018—a $4.00 or a 6.69% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Teladoc’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
