LEAD PLAINTIFF DEADLINE IS DECEMBER 2, 2019
NEW YORK, Oct. 08, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal class action securities lawsuit has been filed in the United States District Court for the Eastern District of Michigan against SmileDirectClub, Inc. ("SmileDirect" or the "Company") (NASDAQ: SDC) on behalf of persons and entities that purchased or otherwise acquired SmileDirect Class A common stock pursuant and/or traceable to the Registration Statement and Prospectus issued in connection with the Company's September 2019 initial public offering (“IPO”) ("Class Period").
Investors who purchased shares of SmileDirectClub, Inc. are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of you may, no later than December 2, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of SmileDirectClub, Inc.
In September 2019, SmileDirect sold approximately 58.5 million shares of Class A common stock at a price of $23.00 per share in an initial public offering. On September 24, 2019, a class action complaint was filed by dentists, orthodontists and consumers against SmileDirectClub, alleging false advertising, fraud, negligence and unfair and deceptive trade practices. The dentists' false advertising complaint disputed the accuracy of several statements in the Registration Statement and highlighted that the Company is subject to litigation for operating as a dentist without proper licensing in several states, as well as other litigation.
On this news, SmileDirect's share price fell nearly $1.47 per share to close at $15.68 per share on September 24, 2019. SmileDirect's stock has since traded as low as $11.68 per share, a nearly 50% decline from the $23.00 IPO price.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org
Tel: (800) 575-0735 or (212) 545-4774
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