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Lawsuit filed for Investors in shares of Align Technology, Inc. (NASDAQ: ALGN)

03-12-2020 08:01 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

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

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

The Shareholders Foundation announced that an investor, who purchased shares of Align Technology, Inc. (NASDAQ: ALGN), filed a lawsuit over alleged violations of Federal Securities Laws by Align Technology, Inc.

Investors who purchased shares of Align Technology, Inc. (NASDAQ: ALGN) have certain options and for certain investors are short and strict deadlines running. Deadline: May 01, 2020. NASDAQ: ALGN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On July 24, 2019, after the market closed, Align Technology, Inc announced its financial results for the second quarter of 2019, revealing significantly declining sales volumes for its Invisalign products and drastically reducing its growth projections for the third quarter and full year of 2019. The Company's Chief Executive Officer acknowledged that these problems were "primarily due to softness in China related to a tougher consumer environment" - a stark contrast from defendants' representations about the Company's Chinese operations between April 24, 2019 and July 24, 2019.

The plaintiff claims that between April 24, 2019 and July 24, 2019, the defendants made numerous materially misleading statements emphasizing the growth and performance of the Company's operations in China, the Company's most valuable market after the United States, that these statements included describing the "huge market opportunity" and "tremendous growth . . . in China, in particular," and characterizing the Company's increasing presence in China as "a big hit with our Chinese customers", that these and other statements were materially false and misleading because they exaggerated the Company's performance in China and omitted to disclose material declines in Chinese demand for the Company's products and the deteriorating sentiment of consumers in China towards the Company's products, and that as a result of defendants' false statements and/or omissions, the price of Align common stock was artificially inflated to a high of more than $330 per share between April 24, 2019 and July 24, 2019.

Those who purchased shares of Align Technology, Inc. (NASDAQ: ALGN) 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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