Key Developments: Align Technology Inc (ALGN.O)
35.02USD
14 Jun 2013
$0.35 (+1.01%)
$34.67
$34.87
$35.26
$34.08
509,589
909,421
$39.82
$23.45
Latest Key Developments (Source: Significant Developments)
Align Technology Inc Issues Q2 2013 Guidance Below Analysts' Estimates
Align Technology Inc announced that for the second quarter of 2013, it expects net revenues to be in a range of $153.6 million to $157.4 million. Earnings per diluted share (EPS) is expected to be in a range of $0.26 to $0.28. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenues of $159.14 million and EPS of $0.30 for the second quarter of 2013. Full Article
Align Technology Inc Issues Q1 2013 Mixed Guidance
Align Technology Inc announced that for the first quarter of 2013, it expects net revenues to be in a range of $146.0 million to $150.5 million and earnings per diluted share (EPS) to be in a range of $0.21 to $0.23. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $145 million and EPS of $0.26 for the first quarter of 2013. Full Article
Align Technology Inc Announces Departure of Kenneth B. Arola as VP Finance and Chief Financial Officer
Align Technology Inc announced that Kenneth B. Arola will step down as vice president, finance and Chief Financial Officer(CFO) effective March 4, 2013 and will remain an employee of the Company through June 28, 2013. Mr. Arola will remain in his capacity as CFO through the completed audit of the Company's 2012 financial statements and filing of the 2012 Form 10-K with the SEC. The Company has initiated a search for a new chief financial officer. Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At Align Technology Inc
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at Align Technology Inc. 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. Full Article
Levi & Korsinsky Commences Class Action Lawsuit On Behalf Of Investors Of Align Technology Inc
Levi & Korsinsky announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who acquired Align Technology Inc securities between April 23, 2012 and October 17, 2012. According to the complaint, defendants' statements during the Class Period concerning Align's financial condition and results for fiscal 2012 were false and misleading, because defendants knew and failed to disclose the following facts: (a) the Company's reported income and earnings were materially overstated, as the Company failed to timely write down goodwill associated with their acquisition of Cadent Holdings, Inc.; (b) negotiations with Straumann Group, the Company's European distributor, concerning its distribution relationship with Align had failed or been failing, and thus the goodwill associated with the acquisition of Cadent had already been materially impaired; and (c) the Company's sales and sales trends could not support the Company's third quarter and fiscal 2012 financial forecasts. Full Article
Levi & Korsinsky, LLP Announces Investigation Of Align Technology Inc
Levi & Korsinsky, LLP announced that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who acquired Align Technology, Inc. securities between April 23, 2012 and October 17, 2012 . Full Article
Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Align Technology Inc
Ryan & Maniskas, LLP announced that a class action lawsuit has been filed in the United States District Court for the Western District of Washington on behalf of purchasers of Align Technology Inc("Align Technology" or the "Company") common stock during the period between April 23, 2012 and October 17, 2012 , inclusive (the "Class Period"). On October 18, 2012 , shares of Align declined more than 20%, after the Company belatedly revealed it would take a substantial impairment charge, and after it revealed that third quarter 2012 financial results were well below guidance and after the Company lowered guidance for the fourth quarter of 2012. During the class period, Company insiders also sold more than 1.5 million shares of Align stock at artificially inflated prices to realize insider trading proceeds in excess of $52 million . Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At Align Technology Inc
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at Align Technology Inc. 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. Full Article
Robbins Umeda LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Align Technology Inc
Shareholder rights firm Robbins Umeda LLP announced that a complaint has been filed in the U.S. District Court for the Northern District of California on behalf of purchasers of Align Technology Inc (Align or the Company). The complaint alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers and directors between April 23, 2012 and October 17, 2012 (the Class Period). Full Article
Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Possible Violations of Securities Laws of Align Technology Inc
The Briscoe Law Firm, PLLC , and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against Align Technology, Inc. ("Align") (NasdaqGS: ALGN) and its officers and Board of Directors for potential breaches of fiduciary duties and violations of federal securities laws. Full Article
BRIEF-Align down 2.9 percent in extended trading
NEW YORK, April 18 - Align Technology Inc : * Shares down 2.9 percent in extended trading
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