We are investigating SmileDirectClub, Inc. (SDC) (“SmileDirectClub” or the “Company”) for potential violations of the federal securities laws.
On or about September 11, 2019, the Company conducted its initial public offering (“IPO”), selling 58.5 million shares of stock priced at $23.00 per share. On the first day of trading, SmileDirectClub’s stock price fell $6.33 per share, or 27.52%, to close at $16.67 per share on September 12, 2019.