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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 2, 2019 to file lead plaintiff applications in a securities class action lawsuit against SmileDirectClub, Inc. (NasdaqGS: SDC), if they purchased the Company’s shares issued in connection with its September 2019 Initial Public Offering (“IPO”). This action is pending in the United States District Court for the Eastern District of Michigan.
SmileDirectClub and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
On September 24, 2019, only weeks after its IPO, the dental aligner therapy company was sued in a class action lawsuit by a group of dentists, orthodontists and consumers alleging damages suffered as a result of its fraudulent and misleading marketing practices regarding the effectiveness, comparable level of dental care, and return policies of its products, among other charges.
On this news, the price of SmileDirectClub’s shares fell and continued to decline over the next two trading sessions on unusually heavy trading volume.
If you purchased shares of SmileDirectClub and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or fill out the form on this page.
The securities case is Andre v. SmileDirectClub, Inc., et al., 2:19-cv-12883. Click here to read the case complaint.