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Case Status:    DISMISSED    
On or around 04/23/2021 (Date of order of final judgment)

Filing Date: March 02, 2020

According to the Complaint, Align Technology, Inc. is a medical device company that designs, manufactures, and markets devices to treat misaligned teeth. The Company’s principal products are the Invisalign clear dental aligners and the iTero® (“iTero”) intraoral scanners, which are used to create digital imagery of patients’ teeth for the purposes of diagnosing misalignment and fitting Invisalign aligners.

The Complaint alleges that throughout the Class Period, Defendants made numerous materially misleading statements emphasizing the growth and performance of the Company’s operations in China, the Company’s most valuable market after the United States; these statements included describing the “huge market opportunity” and “tremendous growth . . . in China, in particular,” and characterizing the Company’s increasing presence in China as “a big hit with our Chinese customers.” The Complaint alleges these and other statements were materially false and misleading because they exaggerated the Company’s performance in China and omitted to disclose material declines in Chinese demand for the Company’s products and the deteriorating sentiment of consumers in China towards the Company’s products.

On April 28, 2020, this case was transferred to the Northern District of California. The Court issued an Order appointing Lead Plaintiff and Counsel on May 20. Lead Plaintiff filed an amended Complaint on August 4. Defendants filed a Motion to Dismiss the amended Complaint on September 18. On March 29. 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. Plaintiff did not amend the Complaint, and on April 23, the Court dismissed the case with prejudice.

On April 28, 2021, Lead Plaintiff filed a notice appealing the Court's Dismissal Order. The Court of Appeals affirmed the District Court's Dismissal Order on July 7, 2022. On August 15, the Court of Appeals denied Lead Plaintiff's petition for rehearing.

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