WAYNE, Pa., Dec. 10, 2012 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/algn) announces that a class action lawsuit has been filed in the United States District Court for the Western District of Washington on behalf of purchasers of Align Technology, Inc. ("Align Technology" or the "Company") (NASDAQ: ALGN) common stock during the period between April 23, 2012 and October 17, 2012, inclusive (the "Class Period").
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com or visit: www.rmclasslaw.com/cases/algn.
Align Technology and certain of its senior executives are charged with issuing a series of materially false and misleading statements, during the Class Period, in violation of federal securities laws.
On October 18, 2012, shares of Align declined more than 20%, after the Company belatedly revealed it would take a substantial impairment charge, and after it revealed that third quarter 2012 financial results were well below guidance and after the Company lowered guidance for the fourth quarter of 2012. During the class period, Company insiders also sold more than 1.5 million shares of Align stock at artificially inflated prices to realize insider trading proceeds in excess of $52 million.
If you are a member of the class, you may, no later than January 27, 2013, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/algn or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at firstname.lastname@example.org. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
SOURCE Ryan & Maniskas, LLP