Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Align Technology, Inc.6 Views
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the January 4, 2019 deadline to file a lead plaintiff motion in the class action 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.
If you are a shareholder who suffered a loss, click here to participate.
On October 24, 2018, Align 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’s 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 Company’s 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 Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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If you purchased shares of Align, you may move the Court no later than January 4, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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