NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against Align Technology, Inc. (“Align Technology” or the “Company”) (NASDAQ: ALGN). The investigation concerns whether Align Technology and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On July 26, 2023, Align Technology reported its Q2 2023 earnings, offered guidance for its Q3 2023 earnings, and revised upwards the Company’s full-year 2023 guidance. During its second quarter earnings call with investors, Align Technology officers stated that the Company’s product portfolio was largely resilient to inflation and other negative economic trends.
However, on October 25, 2023, Align Technology reported its Q3 2023 earnings, which fell short of the Company’s previous guidance and market analyst expectations. During its third quarter earnings call with investors, Align Technology officers attributed this reduction in the adult aligner market to macroeconomic trends. On this news, the price of Align Technology shares declined by $63.13 per share, or approximately 24.88%, from $253.69 per share to close at $190.56 on October 26, 2023.
If you purchased or otherwise acquired Align Technology securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: https://www.kmllp.com.
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