An investigation on behalf of investors in SmileDirectClub, Inc. (NASDAQ:SDC) shares over potential wrongdoing at SmileDirectClub, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 09/21/2021 -- Certain directors of SmileDirectClub, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of SmileDirectClub, Inc. (NASDAQ: SDC) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain SmileDirectClub directors breached their fiduciary duties and caused damage to the company and its shareholders.
Nashville, TN based SmileDirectClub, Inc. operates a teledentistry platform that provides member's with a customized clear aligner therapy treatment in the United States and internationally. On or about September 11, 2019, the Company conducted its initial public offering ("IPO"), selling 58.5 million shares of stock priced at $23.00 per share.
SmileDirectClub, Inc. reported that its annual Total Revenue declined from $750.42 million in 2019 to $656.78 million in 2020 and that its Net Loss declined from $114.51 million in 2019 to $78.36 million in 2020.
On August 10, 2021, SmileDirectClub, Inc. announced financial results for the second quarter ended June 30, 2021. Total revenue was $174 million versus the guidance the company provided on May 10, 2021, of $195 million to $200 million.
Shares of SmileDirectClub, Inc. (NASDAQ: SDC) declined from $15.86 per share in January 2021, to as low as $4.63 per share on August 23, 2021.
Those who purchased shares of SmileDirectClub, Inc. (NASDAQ: SDC) have certain options and should contact the Shareholders Foundation.
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