Robbins Arroyo LLP: Align Technology, Inc. (ALGN) Misled Shareholders According to Class Action

SAN DIEGO & SAN JOSE, Calif.–(BUSINESS WIRE)–$ALGN #ClassAction–Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Align Technology, Inc.
(NasdaqGS: ALGN) have filed a class action complaint against the
company’s officers and directors for alleged violations of the
Securities Exchange Act of 1934 between July 25, 2018 and October 24,
2018. Align manufactures a system of clear aligner therapy, intraoral
scanners, and computer-aided design and computer-aided manufacturing
digital services.

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/align-technology-inc-nov-2018/

Align Accused of Failing to Disclose Negative Impact of its
Invisalign Promotions

According to the complaint, on July 25, 2018, Align’s President and CEO
Joe Hogan stated that the company’s 37.5% year-over-year revenue growth
was due to momentum from Invisalign doctors and increased adoption of
Invisalign treatment for teenage patients. Hogan further touted that
Invisalign’s customer base was over 50,000 for the first time and
included more than 5,000 Invisalign-trained doctors. However, Align’s
higher discounts to promote Invisalign were negatively impacting the
company’s revenue. On October 24, 2018, Align reported that its
Invisalign average selling price had declined from $1,315 to $1,230 and
that its Chief Marketing Officer would reduce his responsibilities and
transition to a part-time position. On this news, Align’s stock fell
over 20% on October 25, 2018, and then declined even further to close at
$217.94 per share on October 29, 2018.

Align Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock
Watch
.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Robbins Arroyo LLP
Leonid Kandinov
(619) 525-3990 or Toll Free
(800) 350-6003
LKandinov@robbinsarroyo.com
www.robbinsarroyo.com

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