PHILADELPHIA, Oct. 03, 2019 (GLOBE NEWSWIRE) -- Kaskela Law LLC is investigating SmileDirectClub, Inc. (“SmileDirectClub” or the “Company”) (NASDAQ: SDC) on behalf of investors. 

On or about September 11, 2019, SmileDirectClub completed its initial public offering (“IPO”) of common stock, selling over 58 million shares of stock to investors at $23.00 per share. 

Approximately two weeks later, on September 24, 2019, a class action complaint was filed against SmileDirectClub by a group of dentists, orthodontists, and consumers alleging false advertising, fraud, negligence, and unfair and deceptive trade practices.  The complaint disputed the accuracy of several statements made in the Company’s IPO materials, and reported that the Company is subject to litigation for, among other things, operating as a dentist without proper licensing in several states.

Following this news, shares of SmileDirectClub’s stock fell nearly 25% in value over three trading days, to close on September 26, 2019 at $12.94 per share.  This closing price represented a cumulative decline of over 43% in the value of SmileDirectClub’s stock since the time of the Company’s IPO.

Kaskela Law LLC is investigating whether SmileDirectClub and/or the Company’s officers and directors violated the securities laws in connection with SmileDirectClub’s IPO, and whether investors have been harmed as a result of such actions and/or misstatements.

SmileDirectClub investors who purchased shares of the Company’s stock between September 11, 2019 and September 24, 2019 are encouraged to contact Kaskela Law LLC at (888) 715–1740, or online at http://kaskelalaw.com/case/smiledirectclub/, for additional information about this action and their legal rights and options. 

Kaskela Law LLC exclusively represents investors in securities fraud and shareholder rights litigation in state and federal actions.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. 

CONTACT:

D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com

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