DALLAS, Aug. 6, 2009 (GLOBE NEWSWIRE) -- Kendall Law Group (www.kendalllawgroup.com) is investigating potential shareholder claims against Align Technology (Nasdaq:ALGN) for possible securities violations related to public statements made by the company between January 30, 2007 and October 24, 2007.
Our investigation concerns allegedly false and misleading statements and material omissions by the company concerning its business and prospects. Align designs, manufactures and markets the Invisalign system for treating the misalignment of teeth. On October 24, 2007, the company acknowledged that, in an effort to clear prior backlog, "we did not focus enough effort on filling the pipeline for new case starts," and had to refocus its field and channel marketing teams to generate case growth. In response to this news, shares of Align stock plummeted over 30%. In fact, due to low sales, the company has resorted to a new "proficiency" initiative that requires, among other things, dentists to meet a sales quota of at least 10 Invisalign treatments per year in order to continue being an Invisalign provider. Prior to the backlog announcement, certain company insiders sold their personally held Align stock for proceeds in excess of $20 million.
For information about your rights as an Align shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. Kendall Law Group is led by a former federal judge and former U.S. Attorney. The firm has nationwide experience representing investors in securities litigation.
The Kendall Law Group, LLP logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6273