We are investigating Align Technology, Inc. (ALGN) (“Align” or the “Company”) for potential violations of the federal securities laws.
On July 24, 2019, after the market closed, Align issued a press release announcing its financial results for the second quarter of 2019, which reported significantly declining sales volumes for the Company’s Invisalign products and drastically reduced growth projections for the third quarter and full year of 2019. Joseph M. Hogan, Align’s Chief Executive Officer, acknowledged that these problems were “primarily due to softness in China related to a tougher consumer environment.” On this news, Align’s stock price fell $74.26 per share, or 26.99%, to close at $200.90 per share on July 25, 2019.