Align investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Align is a medical device company that purports to design, manufacture, and market products for the treatment of malocclusion, or the misalignment of teeth. Invisalign is the proprietary name for Align’s clear aligners.
The Class Period commences on July 25, 2018, when Align issued a press release announcing its financial results for the second quarter 2018.
According to the complaint, on October 24, 2018, Align announced its third quarter 2018 financial results and reported that its Invisalign average selling price had declined from $1,315 to $1,230. That same day, Align also announced that its Chief Marketing Officer, Raphael Pascaud, would “reduce his responsibilities and transition to a part-time position.”
Following this news, Align’s share price fell $58.76 per share, more than 20%, to close at $232.07 per share on October 25, 2018. The share price continued to decline over the next two trading sessions, to close at $217.94 on October 29, 2018.
The complaint alleges that throughout the Class Period, the defendants failed to disclose to investors that: (1) Align would offer higher discounts to promote Invisalign; (2) the promotions would materially impact revenue; and (3) as a result of the foregoing, the defendants’ positive statements about Align’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you are a member of the class described above, you may no later than January 4, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Returning any form or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of the class member's choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
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Radnor, PA 19087
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