SmileDirectClub, Inc. (SDC) 

Investigation 

Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of SmileDirectClub, Inc. ("SmileDirectClub" or "the Company") (NASDAQ: SDC). The investigation concerns whether SmileDirectClub and certain of its officers and/or directors have violated federal securities laws.

 

On May 3, 2021, SmileDirectClub “announced that it experienced a systems outage that was caused by a cybersecurity incident on April 14, 2021 (the ‘Incident’).  The Company promptly implemented a series of containment and remediation measures to address the Incident, including temporarily isolating and shutting down affected systems and related manufacturing operations.  The Company immediately mobilized its internal engineering security team and has engaged leading forensic information technology firms to assist the Company’s investigation into the Incident.”  SmileDirectClub further advised that “[t]he Incident . . . has caused, and may continue to cause, delays and disruptions to parts of the Company’s business, including treatment planning, manufacturing operations, and product delivery.  While the Company maintains insurance coverage for certain expenses and potential liabilities that may be associated with the Incident, and the Company plans to pursue coverage for all applicable expenses and liabilities, at this time, the Company expects that the Incident may have a material impact on its business operations and financial results in the second quarter.”  On this news, SmileDirectClub’s stock price fell sharply during intraday trading on May 4, 2021.

 

If you are aware of any facts relating to this investigation, or purchased SmileDirectClub shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.