The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Michigan on behalf of investors who purchased SmileDirectClub Class A common stock (a) pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s September 12, 2019 initial public offering, or (b) during the period from September 8, 2019 through October 2, 2019.
According to the Smiledirectclub lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) administrative personnel, rather than licensed doctors, provided treatment to the Company’s customers and monitored their progress; (2) as a result, the Company’s practices did not qualify as teledentistry under applicable standards; (3) as a result, the Company was subject to regulatory scrutiny for the unlicensed practice of dentistry; (4) the efficacy of the Company’s treatment was overstated; (5) the Company had concealed these deceptive marketing practices prior to the IPO; and (6) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Smiledirectclub you have until December 2, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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