According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Teladoc continued to expand its marketing spend throughout 2023, despite public assurances that it would pull back its advertising spending;
- increased marketing spend on BetterHelp, a Company division and online counseling service, deteriorated Teladoc’s revenue, with little return for that investment;
- despite Teladoc’s acknowledgment that increased advertising spend would be marginally inefficient due to market saturation, it continued to grow its advertising spend in the BetterHelp business; and
- despite public statements that there remained “a long runway” for BetterHelp membership growth, BetterHelp’s membership stagnated and then decreased in 2023, due to market saturation, largely due to BetterHelp’s own marketing.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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