The Shuman Law Firm Investigates Align Technology, Inc. Over Acquisition Of Cadent

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”)

. 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.