Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Align Technology, Inc. who purchased shares between April 24, 2019 and July 24, 2019.
Align and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 24, 2019, post-market, the Company announced its 2Q2019 financial results disclosing a significant cut to its 3Q and FY2019 growth projections amid declining sales volumes that were “primarily due to softness in China related to a tougher consumer environment,” contrary to the Company’s prior representations.
On this news, the price of Align’s shares plummeted over 27%.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 1, 2020 to request that the court appoint them lead plaintiff.