Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, announces that a federal class action lawsuit has been filed against Align Technology, Inc. (“Align” or “Company”) (NasdaqGS: ALGN) and several officers and directors for acts taken during the period of July 25, 2018 and October 24, 2018 (the “Class Period”).
Based upon the allegations in the class action, the firm is investigating additional legal claims against the officers and Board of Directors of Align. If you are an affected Align shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org or call toll free at (888) 809-2750. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued false and/or misleading statements and/or failed to disclose the following: (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 Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
On October 24, 2018, Align announced its Q3 2018 financial results disclosing more than a 6% decrease in its Invisalign Average Selling Price. That same day, Align also announced that its Chief Marketing Officer would “reduce his responsibilities and transition to a part-time position.” When this news was revealed to the market, Align’s stock dropped 20%.
The Briscoe Law Firm, PLLC is a full-service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.