Pomerantz LLP is the fourth law firm to launch an investigation into Align Technology for potential violations of federal securities laws.
The investigation is looking into whether Align Technology, its officers or directors engaged in securities fraud or other unlawful business practices, according to a Nov. 17 news release.
The investigations stem from the company's recent earnings reports. In the second quarter, officers claimed that Align's product portfolio was largely resilient to inflation and other negative economic trends. However, in the company's third quarter report, Align's earnings fell short of previous expectations, citing macroeconomic trends in the adult aligner market.
After the third quarter report, Align's stock price fell more than 28%.
Pomerantz LLP largely focuses on corporate, securities and antitrust class litigation, the release said.
The law offices of Levi & Korsinsky, Kirby McInerney and Vincent Wong all launched their own investigations into Align in November.