NEW YORK, Nov. 08, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of SmileDirectClub, Inc. (NASDAQ: SDC) pursuant and/or traceable to the registration statement issued in connection with SmileDirectClub`s September 2019 IPO, inclusive (the “Class Period”). The lawsuit seeks to recover damages for SmileDirectClub, Inc. investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than December 2, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
To join the class action, http://zhanginvestorlaw.com/join-action-form/?slug=smiledirectclub-inc&id=2077 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
According to the lawsuit, throughout the Class Period, defendants and its senior executives presented false and misleading financial statements or omitted to disclose: (1) administrative personnel, rather than licensed doctors, provided treatment to SmileDirectClub’s customers and monitored their progress; (2) SmileDirectClub’s practices did not qualify as teledentistry under applicable standards; (3) SmileDirectClub was subject to regulatory scrutiny for the unlicensed practice of dentistry; (4) the efficacy of SmileDirectClub’s treatment was overstated; (5) SmileDirectClub had concealed these deceptive marketing practices prior to the IPO; and (6) as a result of the foregoing, defendants’ positive statements about SmileDirectClub’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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