ALGN SHAREHOLDER ALERT: Morgan & Morgan announces an investigation of Align Technology Inc. (ALGN) for federal securities fraud.
NEW YORK, Dec. 3, 2012 /PRNewswire/ -- Morgan & Morgan today announced it is investigating Align Technology, Inc. (ALGN). The firm also advised investors of the Jan. 28, 2013, deadline to move for lead plaintiff in an ALGN securities fraud class action filed on their behalf.
If you purchased shares of Align common stock between April 23, 2012 and Oct. 17, 2012, you are encouraged to contact George Pressly, Esq. at Morgan & Morgan at 1 (800) 631-6234 or email George at info@morgansecuritieslaw.com.
A lawsuit, filed on Nov. 28, 2012, in the U.S. District Court for the Northern District of California, alleges that Align made false and/or misleading statements to investors in violation of the securities laws. Specifically, it claims that Align failed to timely record write downs associated with its acquisition of Cadent Holdings, Inc., causing it to overstate income and earnings, and failed to inform investors that negotiations with its exclusive European distributor, the Straumann Group ("Straumann"), were either failing or had already failed. At the same time, the complaint argues, insiders at Align sold hundreds of thousands of shares of company stock for tens of millions of dollars.
On Oct. 17, 2012, Align announced an end to its agreement with Straumann. The same day, it pre-announced third quarter fiscal 2012 results that were below analyst expectations. On the news, Align stock fell more than 20 percent.
About Morgan & Morgan
Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities fraud, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."
Attorney advertising. Prior results do not guarantee a similar outcome.
Contact:
Morgan & Morgan
Peter Safirstein, Esq.
Five Penn Plaza
23rd Floor
New York, NY 10001
1-800-631-6234
SOURCE Morgan & Morgan
RELATED LINKS
http://www.securitieslawfirm.com
More by this Source
Morgan & Morgan Reminds Investors in Magnum Hunter Resources (MHR) of Class Action Deadline of June 24, 2013 to Seek a Lead Plaintiff Position
Jun 19, 2013, 07:02 ET
Morgan & Morgan Announces the Investigation of Dole Food Company (DOLE)
Jun 14, 2013, 07:53 ET
Morgan & Morgan Announces that Securities Class Action Lawsuits Have Been Filed Against Uni-Pixel, Inc.
Jun 10, 2013, 16:33 ET
Featured Video
Journalists and Bloggers
Visit PR Newswire for Journalists for releases, photos, ProfNet experts, and customized feeds just for Media.
View and download archived video content distributed by MultiVu on The Digital Center.
Custom Packages
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.