class action lawsuit
The suit alleges Teladoc made misleading claims about its advertising spending related to BetterHelp causing decreased revenues and a substantial drop in its stock price.
Initially filed in 2022, the complaint alleged the company's representatives misled investors following its $18.5 billion acquisition of Livongo.
The class action lawsuit alleges a proxy statement provided to investors before the merger misrepresented the company's financial performance and prospects.