Align Technology, Inc. (NASDAQ: ALGN) Investor Securities Class Action Lawsuit 11/05/2018

If you purchased a significant amount of shares of Align Technology, Inc. (NASDAQ: ALGN) between July 25, 2018 and October 24, 2018, and / or if you purchased any NASDAQ:ALGN shares prior to July 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: January 4, 2019. NASDAQ: ALGN investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Align Technology
Case Name: 
Align Technology Shareholder Class Action Lawsuit 11/05/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: ALGN
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
11/05/2018
Class Period Begin: 
07/25/2018
Class Period End: 
10/24/2018
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
01/04/2019
Summary: 

An investor in shares of Align Technology, Inc. (NASDAQ:ALGN) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Align Technology, Inc. in connection with certain allegedly false and misleading statements made between July 25, 2018 and October 24, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Align Technology, Inc. (NASDAQ: ALGN) common shares between July 25, 2018 and October 24, 2018, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between July 25, 2018 and October 24, 2018, the Defendants failed to disclose to investors that the Company would offer higher discounts to promote Invisalign, that the promotions would materially impact revenue, and 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

San Jose, CA based Align Technology, Inc. designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. Align Technology, Inc. reported that its annual Total Revenue rose from over $1.07 billion in 2016 to over $1.47 billion in 2017 and that its Net Income increased from $189.68 million in 2016 to $231.41 million in 2017.

Shares of Align Technology, Inc. (NASDAQ: ALGN) grew to as high as $398.88 per share in September 2018.

On October 24, 2018, Align Technology, Inc. (NASDAQ: ALGN) announced its Q3 2018 financial results. Therein, Align Technology, Inc. disclosed a more than 6% decrease in its Invisalign Average Selling Price (“ASP”). On the same day, Align Technology, Inc. also announced that its Chief Marketing Officer would “reduce his responsibilities and transition to a part-time position.”

Shares of Align Technology, Inc. (NASDAQ: ALGN) declined to as low as $203.12 per share on October 25, 2018.

On November 5, 2018, NASDAQ: ALGN shares closed at $228.12 per share.