This lawsuit is on behalf of investors in the common stock of Align Technology, Inc. (NASDAQ: ALGN) who acquired their shares between January 30, 2007 and October 24, 2007.
The lawsuit alleges that Align Technology and certain of its executives violated federal laws. The lawsuit alleges that, throughout the time period mentioned above, the defendants made materially false statements about the Company’s financial condition. Specifically, the lawsuit alleges that the Defendants misled investors into believing that its prospects for future sales of its Invisalign product were greater than they really were.
On October 24, 2007, the Company acknowledged that, in an effort to clear prior backlog, “we did not focus enough effort on filling the pipeline for new case starts,” and had to refocus its field and channel marketing teams to generate case growth. In response to this news, on October 25, 2007, shares of Align stock plummeted over 33% from its previous day's close, on heavy volume.
Additionally, it has come to light that in the months prior to the Company's October 24, 2007 announcement, certain company insiders sold hundreds of thousands of shares of their personally held Align common stock for gross proceeds in excess of $20 million.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired common stock in Align Technology, Inc. (NASDAQ: ALGN) between January 30, 2007 and October 24, 2007.you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.