Align Technology, Inc. ALGN Securities Stock Fraud
| Company: |
Align Technology, Inc. |
| Ticker Symbol: |
ALGN |
| Class Period: |
Jan-30-07 to Oct-24-07 |
| Date Filed: |
Aug-18-09 |
| Lead Plaintiff Deadline: |
Oct-17-09 |
| Court: |
Northern District of California |
| Allegations: |
A class action lawsuit has been filed on behalf of all persons or entities who purchased Align Technology, Inc. ("Align" or the "Company") common stock between January 30, 2007 and October 24, 2007, inclusive (the "Class Period"). The suit is pending in the Northern District of California against Align and Thomas M. Prescott, Align's President and Chief Executive Officer.
The complaint alleges that, throughout the Class Period, defendants misrepresented or failed to disclose or indicate that the Company was experiencing a considerable decrease in the number of new case starts, which resulted from Align having shifted the focus of its sales force to clearing backlog. As a result, the statements defendants made during the Class Period regarding Align's business, operations and financial prospects were materially false and misleading.
The complaint also alleges that on October 24, 2007, during a conference call with analysts, certain of Align's executive officers shocked the market when they acknowledged that, among other things, in an effort to clear backlog, the Company failed to focus sufficient efforts on garnering new case starts. Consequently, the Company had to refocus its field and channel marketing teams to generate new case growth. On this news, the price of Align's shares fell more than 33%, closing at $19.07 per share, on October 25, 2007.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Align Technology, Inc. ALGN Securities Fraud Legal Help
If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Align Technology, Inc. securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.
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