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Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Align Technology, Inc. To Contact The Firm

Stocks in this article: ALGN

NEW YORK, Jan. 19, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Align Technology, Inc. ("Align" or the "Company") (NasdaqGS: ALGN).

(Logo: http://photos.prnewswire.com/prnh/20120119/MM38856LOGO)

The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that:  (1) Align had materially overstated the Company's income and earnings; (2) the Company had failed to write down goodwill associated with the April 2011 acquisition of Cadent Holdings, Inc. ("Cadent"); (3) the goodwill associated with the Cadent acquisition had been materially impaired as the Company's negotiations with the Straumann Group ("Straumann"), the Company's exclusive distributor in Europe, over a distribution arrangement were failing; and (4) the Company's sales and current sales trend could not support Align's optimistic third quarter fiscal year 2012 financial forecasts.

On October 17, 2012, the Company disclosed that as a result of the termination of its distribution agreement with Straumann, Align would need to review its goodwill and could sustain a large impairment charge, erasing a significant portion of the goodwill value of Cadent.  On the same day, the Company issued a press release pre-announcing its third quarter fiscal 2012 financial results, which missed market revenue and earnings expectations.  In addition, the Company reported that Cadent's sales and services revenues had declined nearly 16%, year-over-year.  Finally, the Company issued weak revenue and earnings outlook for the fourth quarter of 2012, well short of prior expectations.  On these disclosures, Align's stock price plummeted more than 20%, from a close of $35.41 per share on October 17, 2012 to a close of $28.18 per share on October 18, 2012.

Request more information now by clicking here:  www.faruqilaw.com/ALGN. There is no cost or obligation to you.

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