A third law office has launched an investigation into Align Technology.
Four notes:
1. The law office of Vincent Wong announced its investigation Nov. 14 to look into concerns of possible securities fraud.
2. The Kirby McInerney and Levi & Korsinsky law offices launched similar investigations earlier this month.
3. All law firms have 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.
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.