SAN FRANCISCO, March 16, 2020 (GLOBE NEWSWIRE) — Hagens Berman urges investors in Align Technology, Inc. (NASDAQ: ALGN) who have suffered significant losses to submit their losses now. A securities class action has been filed, and certain investors may have valuable claims.
Align Technology, Inc. (ALGN) Securities Class Action:
The complaint focuses on Align’s misrepresentations and concealments about the Company’s operations in China, the Company’s most valuable market after the U.S.
The complaint alleges that Defendants repeatedly and positively described the huge market opportunity and tremendous growth in China for Align’s Invisalign products while omitting to disclose material declines in Chinese demand for the products.
On July 24, 2019, after the market closed, the truth emerged when Align announced disappointing Q2 2019 financial results revealing declining Invisalign sales. The Company blamed the poor performance on softness in the China market related to a tougher consumer environment, in stark contrast to its earlier statements.
This news sent the price of Align shares down nearly $75, or down over 27%, on July 25, 2019.
“We’re focused on investors’ losses and proving Align misled investors about its Chinese operations,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of Align and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Align should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ALGN@hbsslaw.com.
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Reed Kathrein, 844-916-0895