NEW YORK, Nov. 21, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Align Technology, Inc. (“Align” or the “Company”) (NASDAQ: ALGN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Align and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 26, 2023, Align reported its Q2 2023 earnings and offered guidance for Q3 2023 and revised upwards its full-year 2023 guidance. Discussing the foregoing items on an associated earnings call, Align’s officers stated that its product portfolio was largely resilient to inflation and other negative economic trends. However, on October 25, 2023, Align reported its Q3 2023 earnings, which fell short of the previous guidance and analysts’ expectations. Align officers attributed this reduction to softness in the adult aligner market to macroeconomic trends.
On this news, Align’s stock price fell $74.78 per share, or 28.2% to close at $190.94 per share on October 26, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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