BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming May 1, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Align Technology, Inc. ("Align" or the "Company") (NASDAQ: ALGN) securities between April 24, 2019 and July 24, 2019, inclusive (the “Class Period”).
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@example.com.
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.
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 if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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