SAN FRANCISCO, Oct. 30, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP notifies investors in Align Technology, Inc. (NASDAQ: ALGN) of the Firm's investigation of possible disclosure violations. If you purchased or otherwise acquired Align securities between February 8, 2018 and October 25, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
On October 24, 2018, Align and management announced the Company's 3Q 2018 earnings. They reported clear-aligner sales of $427.1 million, up 25% over the prior-year period but a sequential decline of 1.4%. This drop stemmed primarily from lower average selling prices ("ASPs") in the U.S. and internationally. Align and management blamed the lower ASPs in part on promotional discounts.
This news drove the price of Align shares down as much as $87.71, or about 30%, during intraday trading on October 25, 2018.
"We're focused on investors' losses and on the extent to which management's statements concerning competition, sales, and promotions were misleading," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Align should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ALGN@hbsslaw.com.
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Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP