An investigation for investors in SmileDirectClub, Inc. (NASDAQ:SDC) shares over potential securities laws violations by SmileDirectClub, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/23/2021 -- SmileDirectClub, Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
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 focuses on possible claims on behalf of purchasers of the securities of SmileDirectClub, Inc. (NASDAQ: SDC) concerning whether a series of statements by SmileDirectClub, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
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 $4.84 per share on August 16, 2021.
Those who purchased shares of SmileDirectClub, Inc. (NASDAQ: SDC) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.