NEW YORK, NY / ACCESSWIRE / April 29, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Align Technology, Inc. ("Align" or the "Company") (ALGN). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Align and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 24, 2019, after the market closed, Align issued a press release announcing its financial results for the second quarter of 2019, which reported significantly declining sales volumes for the Company's Invisalign products and drastically reduced growth projections for the third quarter and full year of 2019. Joseph M. Hogan, Align's Chief Executive Officer, acknowledged that these problems were "primarily due to softness in China related to a tougher consumer environment."
On this news, Align's stock price fell $74.26 per share, or 26.99%, to close at $200.90 per share on July 25, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm 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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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