Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Align Technology, Inc. To Contact The Firm

Sat Jan 19, 2013 10:00am EST

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NEW YORK,  Jan. 19, 2013  /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading
national securities law firm, is investigating potential securities fraud at
Align Technology, Inc. ("Align" or the "Company") (NasdaqGS: ALGN).

(Logo:  http://photos.prnewswire.com/prnh/20120119/MM38856LOGO)  

The investigation focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that:  (1) Align had materially
overstated the Company's income and earnings; (2) the Company had failed to
write down goodwill associated with the  April 2011  acquisition of Cadent
Holdings, Inc. ("Cadent"); (3) the goodwill associated with the Cadent
acquisition had been materially impaired as the Company's negotiations with the
Straumann Group ("Straumann"), the Company's exclusive distributor in  Europe,
over a distribution arrangement were failing; and (4) the Company's sales and
current sales trend could not support Align's optimistic third quarter fiscal
year 2012 financial forecasts.

On  October 17, 2012, the Company disclosed that as a result of the termination
of its distribution agreement with Straumann, Align would need to review its
goodwill and could sustain a large impairment charge, erasing a significant
portion of the goodwill value of Cadent.  On the same day, the Company issued a
press release pre-announcing its third quarter fiscal 2012 financial results,
which missed market revenue and earnings expectations.  In addition, the Company
reported that Cadent's sales and services revenues had declined nearly 16%,
year-over-year.  Finally, the Company issued weak revenue and earnings outlook
for the fourth quarter of 2012, well short of prior expectations.  On these
disclosures, Align's stock price plummeted more than 20%, from a close of 
$35.41  per share on  October 17, 2012  to a close of  $28.18  per share on 
October 18, 2012.

Request more information now by clicking here:   www.faruqilaw.com/ALGN. There
is no cost or obligation to you.

Take Action



If you purchased Align stock or options between  April 23, 2012  and  October
17, 2012  and would like to discuss your legal rights, visit 
www.faruqilaw.com/ALGN.  You can also contact us by calling  Richard Gonnello 
or  Francis McConville  toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to  rgonnello@faruqilaw.com  or  fmcconville@faruqilaw.com.  
Faruqi & Faruqi, LLP also encourages anyone with information regarding Align's
conduct to contact the firm, including whistleblowers, former employees,
shareholders and others.

Attorney Advertising.  The law firm responsible for this advertisement is Faruqi
& Faruqi, LLP (www.faruqilaw.com).  Prior results do not guarantee or predict a
similar outcome with respect to any future matter.  We welcome the opportunity
to discuss your particular case.  All communications will be treated in a
confidential manner.

FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY  10017
Attn:   Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

 

SOURCE  Faruqi & Faruqi, LLP

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