Announcement: The Court entered the Order Approving Distribution Plan on March 2, 2023. The initial distribution for eligible claimants commenced on March 31, 2023. The Notice of Lead Plaintiff's Post-Distribution Accounting can be found here.
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 the approved 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 reached a Settlement of the Action for $16,000,000 in cash. The Settlement was approved by the Court following a hearing on April 28, 2022. The claims being released by the Settlement are detailed in paragraphs 24-30 of 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, the Settlement affects your legal rights. Please read the Notice for additional information.
Payments to eligible claimants will be made after the completion of all claims processing. Please be patient, as this process will take some time to complete.
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.