NEW YORK, Oct. 4, 2019 /PRNewswire/ — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) has been investigating claims on behalf of investors who purchased shares of SmileDirectClub, Inc. (“SDC” or the “Company”) (Nasdaq: SDC), a Nashville, Tennessee-based direct-to-consumer provider of orthodontic aligners.
On September 11, 2019, SDC closed its initial public offering of common stock, selling 58,537,000 common shares at $23 per share, raising proceeds before expenses of approximately $1.28 billion.
On September 24, 2019, SDC was sued in a federal class action lawsuit filed by a group of dentists, orthodontists and consumers alleging damages suffered as a result of its alleged misleading marketing practices regarding the effectiveness, comparable level of dental care, and return policies of its products, among other charges.
On this news, the Company’s share price fell $1.47, or nearly 9%, to close at $15.68 per share on September 24, 2019.
On October 4, 2019, SDC’s stock closed at $14.72 per share, down approximately 36% since the IPO.
If you purchased SDC shares, and would like to discuss our investigation, please contact us by emailing jcampisi@kaplanfox.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has decades of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about your rights or interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
SOURCE Kaplan Fox & Kilsheimer LLP
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