Align Technology Inc, a global medical device company specializing in clear aligners and intraoral scanners, has seen its stock price experience a moderate increase in recent days.
The company’s shares are part of the Nasdaq Composite, which has reached a new record high, driven by positive sentiment in the market. The Nasdaq Composite is comprised of the following components:
- Technology and healthcare stocks
- Financial institutions and real estate investment trusts
- Consumer goods and services companies
Align Technology’s stock price has increased due to positive market sentiment and investor optimism. Some analysts have suggested that the company is a strong stock to buy on the dip.
However, Align Technology is also facing a class-action lawsuit, which has resulted in a $31.75 million settlement, related to allegations that the company charged customers more than necessary for certain SmileDirectClub products.
The settlement details are as follows:
- Date of settlement: [Insert date]
- Amount of settlement: $31.75 million
- Allegations: Overcharging customers for certain SmileDirectClub products
Despite the class-action lawsuit and settlement, Align Technology’s market performance remains positive, with its stock price showing a notable increase over the past few days.