SAN DIEGO & PURCHASE, N.Y.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that an investor of Teladoc Health (NYSE: TDOC) has filed a shareholder derivative 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 is a virtual care solution company that connects people with medical practitioners.
View this information on the law firm's Shareholder Rights Blog:
Teladoc's Officers and Directors Accused of Failing to Disclose Conduct Violations to Investors
According to the complaint, Teladoc'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.
Teladoc Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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