Align Technology being investigated for securities fraud violations: 4 notes

A law firm recently launched an investigation into Align Technology for possible violations of federal securities laws.

Four notes:

1. Levi & Korsinsky announced its investigation Nov. 7, according to a news release from the firm.

2. The law firm cited Align Technology's recent quarterly earnings reports, in which the company's third-quarter earnings fell short of the aligner company's predictions from the second quarter.

3. Align Technology reported more than $1 billion in total revenue during the second quarter of 2023.

4. In its second-quarter report, Align projected to bring in between $990 million and $1.01 billion during the third quarter. However, the company ended up reporting decreases in revenue and clear aligner volumes between the second and third quarter, citing decreased demand and macroeconomic challenges.

Becker's has contacted Align Technology for comment and will update this story as more information becomes available.

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