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Robbins Arroyo LLP: Align Technology, Inc. (ALGN) Misled Shareholders According to Class Action

December 14, 2018

SAN DIEGO & SAN JOSE, Calif.--(BUSINESS WIRE)--Dec 14, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Align Technology, Inc. (NasdaqGS: ALGN) have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between April 25, 2018 and October 24, 2018. Align manufactures a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing digital services.

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/align-technology-inc-dec-2018/

Align Accused of Failing to Disclose Negative Impact of its Invisalign Promotions

According to the complaint, on July 25, 2018, Align’s President and CEO Joe Hogan stated that the company’s 37.5% year-over-year revenue growth was due to momentum from Invisalign doctors and increased adoption of Invisalign treatment for teenage patients. Hogan further touted that Invisalign’s customer base was over 50,000 for the first time and included more than 5,000 Invisalign-trained doctors. However, Align’s higher discounts to promote Invisalign were negatively impacting the company’s revenue. On October 24, 2018, Align reported that its new Q3 promotion negatively reduced Invisalign’s average sales price by $85— wiping out all increases in Invisalign’s average sales price that the company touted throughout the year. Align further revealed that its Chief Marketing Officer would reduce his responsibilities and transition to a part-time position. On this news, Align’s stock fell over 20% on October 25, 2018, and declined even further to close at $217.94 per share on October 29, 2018, and has yet to recover.

Align Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181214005385/en/

CONTACT: Leonid Kandinov

Robbins Arroyo LLP

600 B Street, Suite 1900

San Diego, CA 92101

LKandinov@robbinsarroyo.com

(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsarroyo.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Robbins Arroyo LLP

Copyright Business Wire 2018.

PUB: 12/14/2018 12:00 PM/DISC: 12/14/2018 12:00 PM

http://www.businesswire.com/news/home/20181214005385/en

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