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Stock impact report

Align Technology Provides Update Regarding SmileDirectClub (SDC) Dispute

Align Technology, Inc. (ALGN) 
Last align technology, inc. earnings: 4/29 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.aligntech.com/investor-relations
Company Research Source: GlobeNewswire
SAN JOSE, Calif., June 29, 2018 (GLOBE NEWSWIRE) -- Align Technology, Inc. (Nasdaq:ALGN) today provided an update to its April 25, 2018 disclosure regarding SDC Financial LLC and SmileDirectClub LLC’s (collectively, the "SDC Entities") allegation that the launch and operation of Align’s Invisalign store pilot program constitutes a breach of non-compete provisions applicable to the members of SDC Financial LLC, including Align. In April 2018, the SDC Entities initiated proceedings that seek, among other forms of relief, to preliminarily and permanently enjoin all activities related to the Invisalign store pilot project, require Align to close the existing Invisalign stores, prohibit Align from opening any additional stores, and allow the SDC Entities to exercise a right to repurchase all of Align's SDC Financial LLC membership interests for a purchase price equal to Align’s current capital account balance. On June 29, 2018, the Chancery Court for Davidson County, Tennessee, denied t Show less Read more
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