Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Align Technology, Inc. (Align or the Company) (NASDAQ: ALGN) securities between July 25, 2018 and October 24, 2018, inclusive (the Class Period). Align investors have until January 4, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Align investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On October 24, 2018, Align Technology issued a press release announcing its Q3 2018 financial results. Therein, the Company disclosed a more than 6% decrease in its Invisalign Average Selling Price (ASP). On the same day, the Company also announced that its Chief Marketing Officer would reduce his responsibilities and transition to a part-time position. On this news, Align Technologys share price shares fell $58.76, or 20% to close at $232.07 on October 25, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company would offer higher discounts to promote Invisalign; (2) that the promotions would materially impact revenue; and (3) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you purchased shares of Align, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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