Monday, December 21, 2009

Align Technology, Inc. Faces Former Employee ERISA Investigation

An analysis on account of above and accepted advisers of Align Technology, Inc. (Public, NASDAQ:ALGN) apropos abeyant Employee Retirement Income Security Act (“ERISA”) Breach of Fiduciary Duty was announced.

Those who are above or accepted advisers or are a affiliate of any of Align Technology, Inc’s investment affairs or accumulation administration retirement affairs and purchased or captivated Align Technology, Inc. (Public, NASDAQ:ALGN) shares or accept advice apropos to this investigation, should acquaintance the Shareholders Foundation, Inc. at Email: mail(at)shareholdersfoundation.com or alarm us at: +1 (858) 779 - 1554. Align Technology, Inc has been accused of balance artifice and according to a an analysis by a law close beneath ERISA advisers (former and current) of Align Technology, Inc may be acceptable to book a ERISA complaint for putting banal options at accident if they can prove their employer abandoned its fiduciary assignment to them. The Fiduciary assignment refers to a company’s albatross to the humans who advance in it and if an employer puts the company’s absorption advanced of the investors’, it has broken its fiduciary duty, so the investigation. Align Technology, Inc. faces a balance chic action accusation over declared violations of Federal Securities Laws on account of purchasers of accepted banal of Align Technology, Inc. (Nasdaq:ALGN) amid January 30, 2007 and October 24, 2007. An broker in Align Technology shares has filed a proposed balance chic action accusation in the United States District Court for the Northern District of California over declared violations of Federal Securities Laws by Align Technology and other. According to the complaint the plaintiff alleges that Align Technology and its arch controlling administrator abandoned the federal balance laws by alive or foolishly behindhand amid January 30, 2007 and October 24, 2007 that the defendant’s accessible statements apropos Align Technology’s business, operations and affairs were materially apocryphal and misleading. Then on October 24, 2007, Align Technology captivated a appointment alarm with analysts to altercate its third division 2007 banking after-effects appear that aforementioned day. During the appointment call, Align Technology appear that assertive of its controlling admiral accustomed that, a allotment of added things, in an accomplishment to bright above-mentioned balance “we did not focus abundant accomplishment on bushing the activity for new case starts,” and that the Company had to refocus its acreage and approach business teams to accomplish new case growth.

In acknowledgment to this account shares of Align Technology, Inc. (Nasdaq:ALGN) beneath the next day added than 33%, or $9.63 per share, to abutting on October 25, 2007, at $19.07 per share, on almighty abundant aggregate of added than 12 actor shares traded. According to antecedent investigations by law firms it has appear aswell to ablaze that in the months above-mentioned to Align’s October 24, 2007 announcement, assertive aggregation assembly awash hundreds of bags of shares of their alone captivated Align accepted banal and accomplished gross gain in balance of $20 million.

Align Technology, Inc., amid in Santa Clara, California, designs, manufactures, and markets the Invisalign system, a adjustment for alleviative malocclusion, or the misalignment of teeth. Invisalign corrects malocclusion application a alternation of clear, about invisible, disposable accessories that acclaim move teeth to a adapted final position. Align Technology appear in 2007 Total Revenue of $284.33million and in 2008 Total Revenue of $303.98million with a Net Income of $79.99million. Shares of Align Technology (NASDAQ:ALGN) traded afresh at $10.40 per share, down anatomy a 52weekHigh of $13.74 per allotment and $28.46 per allotment in 2007.

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