On November 05, 2018, the initial complaint in this securities class action was filed against Align Technology, Inc. (“Align” or the “Company”), and certain of Align’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleged that throughout the class period, the 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, the complaint alleged that the defendants failed to disclose to investors that: (1) the Company 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 the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
This securities class action case was brought on behalf of those who purchased or otherwise acquired Align common stock between May 23, 2018 and October 24, 2018, inclusive.
Current Status of Case:
On November 29, 2019 the lead plaintiff filed an amended consolidated complaint. The defendants filed a motion to dismiss the amended consolidated complaint on January 17, 2020. On September 9, 2020, the Court issued an Order granting in part and denying in part the defendants' motion to dismiss, thereby allowing certain claims to proceed. On September 23, 2020, the defendants filed an answer to the amended consolidated complaint. On September 24, 2020, the Court administratively stayed the case and on January 15, 2021, the Court entered an Order scheduling key litigation deadlines including a jury trial on October 3, 2022.
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.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
Or by e-mail at firstname.lastname@example.org