MINNEAPOLIS, Sept. 1, 2009 (GLOBE NEWSWIRE) -- Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Align Technology, Inc. ("Align" or the "Company") (Nasdaq:ALGN) publicly traded securities during the period January 30, 2007 through October 24, 2007 (the "Class Period").
If you are a member of the proposed Class, you may move the Court to serve as a lead plaintiff for the Class on or before October 9, 2009. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
The Complaint alleges that Align failed to disclose that the Company had shifted the focus of its sales force to clearing backlog, causing a significant decrease in the number of new case starts. Defendants' misleading statements and omission of materially adverse information rendered their Class Period statements concerning Align's business, operations and financial prospects materially false and misleading at all relevant times.
On October 24, 2007, Align held a conference call where the Company shocked the market when certain of its executive officers acknowledged that in an effort to clear prior backlog "we did not focus enough effort on filling the pipeline for new case starts," and the Company had to refocus its field and channel marketing teams to generate new case growth. As a result of this news, shares of Align declined more than 33%, or $9.63 per share, to close on October 25, 2007 at $19.07 per share.
If you purchased Align Technology, Inc. stock during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:
Neal Eisenbraun, Esq. (cjohnsonlaw@gmail.com) Charles H. Johnson & Associates 2599 Mississippi Street New Brighton, MN 55112 (651) 633-5685