The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Align Technology, Inc. (NASDAQ: ALGN) who purchased shares between April 24, 2019 and July 24, 2019. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Align lawsuit alleges that (a) Align was then experiencing a significant decline in demand for its products in the important Chinese market; (b) Chinese consumer sentiment towards the Company was deteriorating; and (c) as a result of the foregoing, Defendants’ positive statements about Align and its businesses were lacking in a reasonable basis.
Shareholders have until May 1, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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