LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, 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 April 24, 2019 and July 24, 2019, inclusive (the “Class Period”). Align investors have until May 1, 2020 to file a lead plaintiff motion.
If you suffered a loss on your Align investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email shareholders@glancylaw.com or visit our website at www.glancylaw.com to learn more about your rights.
On July 24, 2019, Align announced its financial results for the second quarter of 2019, revealing significantly declining sales volumes for its Invisalign products and drastically reducing its growth projections for the third quarter and full year of 2019. The Company’s Chief Executive Officer attributed the decline “to softness in China related to a tougher consumer environment.”
On this news, the Company’s share price fell $74.26, or over 26%, to close at $200.90 per share on July 25, 2019, 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 they had exaggerated the Company’s performance in China; and (2) that Chinese demand for the Company’s products materially declined.
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If you purchased Align securities during the Class Period, you may move the Court no later than May 1, 2020 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 Charles Linehan, 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 shareholders@glancylaw.com, 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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