BOSTON, Nov. 1, 2019 /PRNewswire/ -- A lawsuit has been filed against SmileDirectClub, Inc. ("SmileDirect" or the "Company") (NASDAQ: SDC) alleging that SmileDirect violated the federal securities laws. Investors who purchased SDC common stock in connection with the Company's initial public offering (its IPO), and are interested in learning more about the case or participating as a lead plaintiff, are encouraged to submit your information to the Thornton Law Firm, which is investigating this matter on behalf of SDC shareholders, by clicking on the link below. Investors may also email the firm to obtain information at firstname.lastname@example.org or call (617) 531-3917.
FOR MORE INFORMATION, VISIT: WWW.TENLAW.COM/CASES/SDC
The lawsuit against SmileDirect alleges, among other things, that SmileDirect failed to disclose to investors that administrative personnel, rather than licensed doctors, provided treatment to customers and thus the Company's practices did not qualify as teledentistry. In addition, the lawsuit alleges that SmileDirect was subject to regulatory scrutiny for the unlicensed practice of dentistry, that the efficacy of the Company's treatment was overstated, and that the Company had concealed these deceptive marketing practices prior to the IPO. As a result, the lawsuit alleges that the Company's positive statements about its business, operations, and prospects, were materially misleading or lacked a reasonable basis.
Investors who purchased SDC common stock in connection with the IPO are encouraged to contact the Thornton Law Firm's shareholder rights team by submitting your information at www.tenlaw.com/cases/sdc. Interested SDC shareholders have until December 2, 2019 to apply to be lead plaintiff. The class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Thornton Law Firm's securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.