Align Technology, Execs Dodge Proposed Fraud Class Action

Law360, Los Angeles (December 10, 2013, 5:13 PM ET) -- A California federal judge on Monday tossed a putative class action accusing dental products maker Align Technology Inc. and two of its executives of violating federal securities laws by failing to timely write down tens of millions of dollars of Align’s goodwill that was impaired.

Last year, a Michigan city’s pension fund filed the lawsuit against Align, Align’s CEO Thomas M. Prescott and Align’s CFO Kenneth B. Arola, alleging they had given a false impression of the company's finances while making more than $52 million through...
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Case Information

Case Title

City of Dearborn Heights Act 345 Police & Fire Retirement System v. Align Technology, Inc. et al

Case Number

3:12-cv-06039

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

William H. Orrick

Date Filed

November 28, 2012

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