SAN DIEGO, Oct. 03, 2019 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in shares of SmileDirectClub, Inc. (NASDAQ: SDC).

Investors in shares of SmileDirectClub, Inc. (NASDAQ: SDC) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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. Shares of SmileDirectClub, Inc. (NASDAQ: SDC) declined on September 26, 2019 to as low as $12.56 per share.

The plaintiff alleges that registration statement and prospectus that were filed with the SEC in connection with the IPO contained untrue statements of material facts and/or omitted to state material facts both required by governing regulations and necessary to make the statements made therein not misleading. More specifically, the plaintiff claims that the defendants made allegedly false and/or misleading statements and/or failed to disclose the severity of the legal obstacles SmileDirect faces in 40 states in the United States and in front of multiple departments and agencies of the federal government, and that over one thousand substantiated, serious customer complaints about the efficacy of the Company’s flagship product – the aligner – and the injuries customers are experiencing.

Those, who purchased SmileDirectClub, Inc. (NASDAQ: SDC) shares, should contact the Shareholders Foundation, Inc.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554 
mail@shareholdersfoundation.com 
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.