LOS ANGELES–(BUSINESS WIRE)–$SDC #SDC—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of SmileDirectClub, Inc. (“SmileDirectClub” or “the Company”) (NASDAQ: SDC) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. SmileDirectClub stated in a regulatory filing that it suffered from a systems outage caused by a “cybersecurity incident” on April 14, 2021. According to the Company, it was able “to successfully block the attack, no ransom was paid, and the Company’s systems and operations are back online and performing normally.” Despite this, the Company admitted that the cyberattack “may have a material impact on its business operations and financial results in the second quarter.” Based on this news, shares of SmileDirectClub plunged by 19%.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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