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Press release from Business Wire

The Shuman Law Firm Investigates Align Technology, Inc.

Tuesday, August 06, 2013

The Shuman Law Firm Investigates Align Technology, Inc.

17:12 EDT Tuesday, August 06, 2013

BOULDER, Colo. (Business Wire) -- The Shuman Law Firm today announced that it is investigating potential claims against certain officers and directors of Align Technology, Inc. (“Align” or the “Company”) (Nasdaq: ALGN). Align designs, manufactures, and markets a system of clear aligner therapy, intra-oral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services that are used in dentistry, orthodontics, and dental records storage.

The firm's investigation concerns the Company's October 17, 2012 announcement that it would take a substantial impairment charge relating to its March 29, 2011 acquisition of privately held Cadent Holdings, Inc. (“Cadent”) for approximately $190 million in cash. Approximately two-thirds, or $135.3 million of the total transaction was goodwill, while tangible assets totaled approximately $19.4 million.

According to the Company's press release touting the acquisition, Cadent was “a leading provider of 3D digital scanning solutions,” which would provide Align with a “dedicated digital scanning platform for delivering Invisalign chair-side applications to dental practitioners and extends Align's presence into restorative dentistry.” The Company also stated that “[t]he combination of the two companies' market leading positions and technologies provides a significant opportunity to create growth and to build value for customers and shareholders.”

The October 17, 2012 announcement sent Align's stock price down more than 20%. Shortly preceding this announcement, Company insiders also sold more than 1.5 million shares of Align stock at allegedly artificially inflated prices to realize proceeds in excess of $52 million.

If you currently own Align common stock and are interested in discussing your rights as a shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or email Mr. Glenn at rusty@shumanlawfirm.com.

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.

The Shuman Law Firm
Kip B. Shuman, Esq., 866-974-8626
kip@shumanlawfirm.com
or
Rusty E. Glenn, Esq., 866-974-8626
rusty@shumanlawfirm.com
Fax: 303-484-4886
www.shumanlawfirm.com

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