Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Align Technology, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Align Technology, Inc. (“Align Technology” or the “Company”) (NASDAQ:ALGN) of the January 4, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Align Technology stock or options between July 25, 2018 and October 24, 2018 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of all those who purchased Align Technology securities between July 25, 2018 and October 24, 2018 (the “Class Period”). The case, Lu v. Align Technology, Inc. et al, No. 18-cv-06720 was filed on November 5, 2018, and has been assigned to Judge Lucy H. Koh.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company would offer higher discounts to promote Invisalign; (2) such promotions would materially impact revenue; and (3) consequently, the defendants' positive statements about the Company's business, operations and prospects were materially misleading and/or lacked a reasonable basis.
Specifically, on October 24, 2018, the Company issued a press release to announce its third quarter 2018 financial results. The Company's results fell short of expectations. The same day, the Company filed an 8-K with the Securities and Exchange Commission (“SEC”) to disclose that the Chief Marketing Officer (“CMO”) would “reduce his responsibilities and transition to a part-time position.”
On this news, the Company’s stock price fell from $290.83 per share on October 24, 2018 to $232.07 per share on October 25, 2018—a $58.76 or 20.20% drop.
Align Technology, Inc. (ALGN)
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Filed on 11/07/2018
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