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Lawsuit filed for Investors in shares of SmileDirectClub, Inc. (NASDAQ: SDC)

10-09-2019 05:46 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in SmileDirectClub, Inc. (NASDAQ: SDC) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in SmileDirectClub, Inc. (NASDAQ: SDC) shares over alleged securities laws violations.

An investor, who purchased shares of SmileDirectClub, Inc. (NASDAQ: SDC), filed a lawsuit over alleged violations of Federal Securities Laws by SmileDirectClub, Inc. in connection with the Company’s September 2019 initial public offering (“IPO”).

Investors who purchased shares of SmileDirectClub, Inc. (NASDAQ: SDC) have certain options and for certain investors are short and strict deadlines running. Deadline: December 2, 2019. NASDAQ: SDC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On or about September 11, 2019, the Company conducted its initial public offering (“IPO”), selling 58.5 million shares of stock priced at $23.00 per share. Shares of SmileDirectClub, Inc. (NASDAQ: SDC) declined on September 26, 2019 to as low as $12.56 per share.

The plaintiff claims that the , Defendants failed to disclose to investors that administrative personnel, rather than licensed doctors, provided treatment to the Company’s customers and monitored their progress, that, as a result, the Company’s practices did not qualify as teledentistry under applicable standards, that, as a result, the Company was subject to regulatory scrutiny for the unlicensed practice of dentistry, that the efficacy of the Company’s treatment was overstated, that the Company had concealed these deceptive marketing practices prior to the IPO, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of SmileDirectClub, Inc. (NASDAQ: SDC) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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