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Jun 17, 2002
Align Technology Files Counter-Claim Against Discus Dental
Align Technology Files Counter-Claim Against Discus Dental
Align Technology Files Counter-Claim Against Discus Dental
In April 2002 Align exercised its contractual right to terminate its exclusive marketing agreement with Discus, who later filed for arbitration against Align with the American Arbitration Association.
About Align Technology, Inc.
Align Technology designs, manufactures and markets Invisalign, a proprietary method for treating malocclusion, or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, comfortable and removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, Invisalign significantly reduces aesthetic and other limitations associated with braces. Invisalign is appropriate for treating adults and older teens. Align Technology was founded in March 1997 and received FDA clearance to market Invisalign in 1998.
To learn more about Invisalign or to find a certified Invisalign doctor, please visit www.invisalign.com or call 1-800-INVISIBLE.
This release may contain forward-looking statements based on Align Technology's current expectations. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include Align Technology's ability to achieve profitability, the adoption by orthodontists, dentists and consumers of Invisalign, Align Technology's successful enforcement of its intellectual property and avoidance of infringement on third party patents, Align Technology's ability to establish and maintain reliable, high-volume manufacturing capacity in the U.S. and internationally, Align Technology's ability to manage its significant growth and retain its key personnel, and Align Technology's ability to achieve cost-savings in manufacturing and to increase manufacturing efficiencies. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Align Technology's Annual Report on Form 10-K, as well as other reports and documents filed from time to time with the Securities and Exchange Commission.
Company Seeks Minimum of $40 Million in Damages from Discus
Santa Clara, Calif., June 17, 2002 - Align Technology, Inc. (Nasdaq: ALGN), the inventor of Invisalign®, an orthodontic appliance used to straighten teeth without wires and brackets, today filed a $40 million counter-claim against Discus Dental with the American Arbitration Association. Discus is a provider of aesthetic and clinical dental products with whom Align had an exclusive Invisalign marketing agreement until April 2002. Align seeks damages in the counter-claim arising from Discus' misrepresentation of its capabilities, improper marketing of Invisalign to general dentists, breach of duties regarding confidentiality, and unfair and fraudulent business practices.In April 2002 Align exercised its contractual right to terminate its exclusive marketing agreement with Discus, who later filed for arbitration against Align with the American Arbitration Association.
About Align Technology, Inc.
Align Technology designs, manufactures and markets Invisalign, a proprietary method for treating malocclusion, or the misalignment of teeth. Invisalign corrects malocclusion using a series of clear, comfortable and removable appliances that gently move teeth to a desired final position. Because it does not rely on the use of metal or ceramic brackets and wires, Invisalign significantly reduces aesthetic and other limitations associated with braces. Invisalign is appropriate for treating adults and older teens. Align Technology was founded in March 1997 and received FDA clearance to market Invisalign in 1998.
To learn more about Invisalign or to find a certified Invisalign doctor, please visit www.invisalign.com or call 1-800-INVISIBLE.
This release may contain forward-looking statements based on Align Technology's current expectations. These forward-looking statements involve risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. These factors include Align Technology's ability to achieve profitability, the adoption by orthodontists, dentists and consumers of Invisalign, Align Technology's successful enforcement of its intellectual property and avoidance of infringement on third party patents, Align Technology's ability to establish and maintain reliable, high-volume manufacturing capacity in the U.S. and internationally, Align Technology's ability to manage its significant growth and retain its key personnel, and Align Technology's ability to achieve cost-savings in manufacturing and to increase manufacturing efficiencies. These factors, as well as other factors that could cause actual results to differ materially, are discussed in more detail in Align Technology's Annual Report on Form 10-K, as well as other reports and documents filed from time to time with the Securities and Exchange Commission.