Teladoc Health Inc. investors can’t proceed with a proposed class action alleging the online health company misrepresented its integration with an acquired rival, a federal court ruled.
The suit, revived on appeal in September, still fails to adequately allege the necessary level of intent for securities fraud, Judge Denise Cote said March 21 for the US District Court for the Southern District of New York. She dismissed the case with finality.
The investors alleged that Teladoc and its leadership misrepresented its integration with Livongo Health Inc. as progressing well—or fully complete—in technology, sales, and other areas.
Cote dismissed the suit ...
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