Align Technology, Inc. (NASDAQ: ALGN)
Hagens Berman Sobol Shapiro LLP alerts investors in Align Technology, Inc. (NASDAQ: ALGN) to the January 4, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Northern District of California. The current class period is July 25, 2018 through and including Octover 24, 2018.
If you purchased or otherwise acquired securities of ALGN between January 1, 2018 and October 24, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more infomation contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing ALGN@hbsslaw.com.
On October 24, 2018, Align and management announced the Company’s 3Q 2018 earnings. They reported clear-aligner sales of $427.1 million, up 25% over the prior-year period but a sequential decline of 1.4%. This drop stemmed primarily from lower average selling prices (“ASPs”) in the U.S. and internationally. Align and management blamed the lower ASPs in part on promotional discounts.
This news drove the price of Align shares down as much as $87.71, or about 30%, during intraday trading on October 25, 2018.
“We’re focused on investors’ losses and on the extent to which management’s statements concerning competition, sales, and promotions were misleading,” said Hagens Berman partner Reed Kathrein.
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