Levi & Korsinsky, LLP announces that a SDC class action lawsuit has been filed on behalf of investors who purchased Smiledirectclub, Inc. (SDC) securities between September 13, 2019 and October 2, 2019. For more on the SDC Lawsuit please contact us today.
According to the 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 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.