ATTENTION ALL SETTLEMENT CLASS MEMBERS – THE SETTLEMENT HAS BEEN APPROVED
Please be advised that the Final Approval Hearing was held on April 28, 2022 at 2:30PST via Videoconference.
The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Final Approval Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice and Frequently Asked Questions for additional details.
Summary of the Action and the Settlement
The Notice relates to a proposed Settlement of claims in a securities class action brought by an investor in Align Technology, Inc. ("Align") common stock alleging that Align and certain of its executive officers during the relevant time period violated the federal securities laws by making materially false or misleading statements regarding the impact of competition on Align’s business, particularly its comprehensive clear aligner business. Defendants deny all allegations of wrongdoing or liability whatsoever. A more detailed description of the Action is set forth in the Notice.
Lead Plaintiff, on behalf of itself and the Settlement Class, and Defendants have reached a proposed Settlement of the Action for $16,000,000 in cash. The claims being released by the Settlement are detailed in paragraphs 24-30 in the Notice.
The Settlement Class consists of:
All persons and entities who purchased or otherwise acquired the common stock of Align between May 23, 2018 and October 24, 2018, both dates inclusive, and who were damaged thereby. Certain persons and entities are excluded from the Settlement Class by definition (see paragraph 20 of the Notice).
If you are a member of the Settlement Class, your legal rights will be affected whether you act or do not act. Please read the Notice to fully understand your rights and options.
If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked if mailed, or online via this website, no later than March 31, 2022.
Payments to eligible claimants will be made only after approval of the Settlement and the completion of all claims processing. Please be patient, as this process will take some time to complete.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT
|SUBMIT A CLAIM FORM POSTMARKED (IF MAILED), OR ONLINE, NO LATER THAN MARCH 31, 2022.
||This is the only way to be eligible to receive a payment from the Settlement.
|EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS POSTMARKED NO LATER THAN MARCH 31, 2022.
||Get no payment from the Settlement. This is the only option that will allow you to ever bring or be part of any other lawsuit against Defendants or the other Released Defendants’ Parties about the claims being released by the Settlement.
|OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS FILED OR POSTMARKED NO LATER THAN MARCH 31, 2022.
||Write to the Court about why you do not like the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel’s request for attorneys’ fees and Litigation Expenses. This will not exclude you from the Settlement Class.
|GO TO A HEARING ON APRIL 28, 2022 AT 2:30 P.M. via videoconference
||Ask to speak in Court at the Final Approval Hearing, at the discretion of the Court, about the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel’s request for attorneys’ fees and Litigation Expenses. The proceeding will be held via Zoom webinar.
||Get no payment from the Settlement. You will, however, remain a member of the Settlement Class, which means that you give up any right you may have to sue about the claims that are being resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.
How do I obtain more information?
Detailed information about the Action and the Settlement is contained in the Notice. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-833-677-1108; or emailing info@AlignSecuritiesLitigationSettlement.com; or mailing a letter to:
SEB Investment Management AB, et al. v. Align Technology, Inc., et al.
c/o JND Legal Administration
P.O. Box 91328
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.