According to the complaint against the company’s officers and directors for breaches of fiduciary duties, unjust enrichment, abuse of control, gross mismanagement, and violations of the Securities Exchange Act of 1934 between March 3, 2016 and the present, Teladoc Health, Inc. (TDOC)’s executives allowed multiple violations that hurt the company, including an inappropriate relationship between an executive and lower-level employee, insider trading, harassment of the Company’s employees, and retaliation against a whistleblower. Teladoc executives breached their fiduciary duties by misleading shareholders through materially false statements that failed to disclose this inappropriate activity and their lack of enforcement of Teladoc’s conduct policies. In December 2018, Southern Investigative Reporting Foundation published an article that revealed all of Teladoc executives’ violations. On this news, Teladoc stock fell $4.00, over 6.5%, to close at $55.81. As a result of their materially false and misleading statements, the CEO and CFO have been named as defendants in a securities fraud class action lawsuit that Teladoc is required to defend, further injuring shareholders.
If you are a concerned shareholder who owns shares in TDOC and would like more information about your rights and potential remedies you can call us toll free at (855) TIM-MLAW (855-846-6529) or send us a message via the Shareholder Information below